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The U.S. dollar strengthened against its major counterparts in Asian deals on Wednesday, as traders await the outcome of the Federal Reserve's monetary policy meeting due later in the day.
The Fed is expected to retain $85 billion a month asset purchase program in the meeting, as the recent government shutdown and weak economic data indicate sluggish economic growth.
U.S. retail sales unexpectedly fell in September and consumer confidence dropped to a six-month low in October amid the government shutdown, while the producer price index saw a modest decrease in September, separate reports showed yesterday.
The traders are likely to keep an eye on private sector employment and consumer price inflation data due today for further clues about the economy.
The greenback spiked up to 0.9008 against the franc, its strongest level since October 22. The next resistance for the greenback-franc pair is seen around the 0.91 area.
The greenback appreciated to an 8-day high of 1.3733 against the euro from Tuesday's closing quote of 1.3746. If the greenback rises further, it may face resistance at the 1.365 level.
The greenback climbed to 1.6025 against the pound, staying closer to yesterday's highest level since October 17. On the upside, the greenback is likely to aim resistance around the 1.595 zone.
The greenback approached session's high of 98.28 against the yen and further momentum will help it to touch highest peak set on October 22. The greenback may challenge resistance at the 99.00 area.
Industrial output in Japan climbed a seasonally adjusted 1.5 percent in September compared to the previous month, the Ministry of Economy, Trade and Industry said today's preliminary reading.
That was slightly below forecasts for an increase of 1.8 percent following the 0.9 percent decline in August.
The greenback advanced to 0.8214 against the NZ dollar, a level not seen since October 2. Further gains could lead the greenback to face resistance around the 0.815 area.
Looking ahead, Swiss UBS consumption indicator for September and KOF leading indicator for October, German unemployment rate, Eurozone economic confidence index and German preliminary CPI -all for October are due in the European session.
