Tokyo: The dollar declined on Wednesday ahead of the Federal Reserve's first monetary policy decision under its new chairman, Kevin Warsh, amid widespread anticipation from investors.

According to Qatar News Agency, the Japanese yen did not rise significantly despite a weaker US dollar, hovering near levels that could prompt intervention from authorities, after the Bank of Japan raised interest rates in line with expectations.

In currency trading, the euro held steady at around $1.1611, while the British pound showed little change at $1.3430. The New Zealand dollar edged marginally higher to $0.5833.

Against a basket of currencies, the US dollar index edged down to 99.53, while the yen stood at 160.43 per dollar. The Australian dollar remained steady at $0.7066.

The Reserve Bank of Australia kept its benchmark interest rate unchanged at 4.35%, citing a slowing economy while continuing to monitor inflation levels.