0607 GMT - The U.S. dollar trades in a tight range in Asia ahead of the Federal Reserve's policy decision. Interest‑rate markets imply roughly a 90% probability of a 0.25 percentage point increase to a range of 3.75% to 4.00%. Most U.S. economists expect a 0.25 percentage point increase, although a few expect a 0.50 percentage point increase. Fed Chair Warsh will need to match his tough rhetoric on bringing down inflation with policy action or risk undermining his credibility about controlling inflation, says Joe Capurso, economist at CBA. In the event the Fed does not increase rates, expect a steep fall of 1% or more in the U.S. dollar, he adds.
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