Dollar on the defensive ahead of first Fed decision under Warsh

The US dollar eased slightly against major currencies ahead of the Federal Reserve's rate decision under new Chair Warsh, with the Fed widely expected to keep rates unchanged but signal a neutral policy bias. The Japanese yen hovered near 160.43 per dollar, keeping traders alert for potential intervention, even as the Bank of Japan raised rates to a 31-year high of 1 percent with limited hawkish guidance. The Reserve Bank of Australia held its cash rate steady at 4.35 percent, while the euro steadied at $1.1611 and sterling at $1.3430.