Asian session review: the US dollar declined in anticipation of the Fed decision

During today's Asian trading, the US dollar fell against the euro and the yen in anticipation of the Fed decision.

The focus of traders ' attention also remains on the ongoing negotiations of US lawmakers on a new package of measures to support the economy. Congressional leaders held another meeting on Tuesday, seeking to agree on a stimulus package this week-before the christmas holiday, as well as before the expiration of a number of key assistance programs. "We have made significant progress, and I am optimistic that we can reach a full understanding soon," said republican senate majority leader Mitch mcconnell.

The Fed will not make major changes to monetary policy following the meeting ending on Wednesday, but may announce new benchmarks for the bond repurchase program, analysts say. The Fed has been buying back $120 billion a month of government securities since June this year, and has previously stated that it intends to maintain the current pace of redemption "in the coming months."

Experts expect that on Wednesday the Fed will announce its intention to continue buying bonds in this volume until certain economic benchmarks are reached. Thus, it will be difficult for the Fed to curtail this program prematurely, which will consolidate the stimulating monetary policy for the coming years.

The ICE index, which tracks the dollar's performance against six currencies (euro, swiss franc, yen, canadian dollar, pound sterling and swedish krona), fell 0.1%.