Asian currencies edged sideways against the dollar in early trade as traders await today’s FOMC decision. CBA’s Carol Kong notes that Middle‑East tensions could push the Fed to leave rates unchanged, but lingering inflation keeps a hawkish Powell on the table. The greenback quoted 1.2760 Singapore dollars, held steady at 1,473.20 won and nudged 0.1% higher to 32.50 baht today.

The Aussie dollar hovered near $0.7200, eyeing resistance ahead of domestic CPI and the Fed meeting. StoneX’s Matt Simpson argues a hotter CPI reading would likely seal a May RBA rate hike, reinforcing the up‑trend that has propelled the pair from March lows. A softer Fed stance could also clear the path for a decisive break above the level.

Investors will gauge whether the dollar’s modest move translates into broader Asian market stability or fuels further volatility. A firm hold from the Fed would keep the greenback anchored, supporting the Singapore and Korean currencies, while any surprise tightening could lift the baht and pressure the Aussie dollar’s rally. Current price action therefore sets the short‑term tone for regional FX flows.