• The dollar edged higher on Wednesday, as markets awaited further news on the possible appointment of a hawk as Fed chair and progress on U.S. tax reforms.
The dollar index rose 0.1 percent to 93.58, extending a rebound from Friday’s 2 1/2-week low of 92.749. It rose as high as 93.729on Tuesday.
Investors will also focus on U.S. Beige Book data later in the day, with some likely to be wary of buying dollars aggressively after disappointing U.S. inflation data.
The euro held in a tiny range and was flat against the dollar at $1.1757.
• Jerome Powell likely will be the next Federal Reserve chairman, according to a slim majority of economists in a Reuters poll - but most of them said current Fed Chair Janet Yellen would be the best option.
Just over half the 40 economists who participated in the survey, taken in the past few days, tipped Fed Governor Powell to be appointed chair by U.S. President Donald Trump when Yellen’s current four-year term ends on Feb 1, 2018.
• Bank of Japan board member Makoto Sakurai said on Wednesday it is important for the central bank to stick with its current framework for monetary easing because its effects will become stronger over time.
Sakurai also said the BOJ should not easily change its 2 percent inflation target, because it is also used by other central banks.
• Japanese Prime Minister Shinzo Abe’s coalition is on track for a roughly two-thirds majority in Sunday’s general election, a survey by Kyodo news agency showed, as its conservative rival led by Tokyo Governor Yuriko Koike appeared to lose momentum.
• North Korea sent a congratulatory message to China’s 19th Congress of its Communist Party on Wednesday, amid increasingly frayed relationships between the traditional allies, as China tightens sanctions over Pyongyang’s nuclear weapons programme.
• Oil prices rose on Wednesday, lifted by a fall in U.S. crude inventories and concerns that tensions in the Middle East could disrupt supplies.
Brent crude futures LCOc1, the international benchmark for oil prices, were at $58.16 at 0643 GMT, up 28 cents, or 0.5 percent from their last close - and almost a third above mid-year levels.
U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $52.03 per barrel, up 15 cents, or 0.3 percent, and almost a quarter above mid-June levels.
Trading volumes were limited during Asian hours on Wednesday due to a public holiday in Singapore, Malaysia and parts of India.
Reference: Reuters, CNBC
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