Dollar index steadied in Asian trade ahead of the Fed meeting expected to keep rates unchanged, focusing on inflation outlook.
Australian dollar fell 0.25% after March CPI slightly missed expectations but remained high, prompting expectations of further RBA rate hikes.
Geopolitical tension from the U.S.-Iran war and a potential Hormuz blockade kept Asian risk appetite low, with the yen hovering near 160 per dollar.
Fed Chair Jerome Powell’s term ends May 15; Kevin Warsh’s nomination cleared after Senator Thom Tillis reversed his opposition.