The Fed is expected to decrease the goal scope for its Fed funds rate by 25 basis points in this week's meeting.
The U.S. dollar indicator that monitors the greenback from a basket of different currencies has been little changed at 97.863.
"Speculators are already overly brief in the buck," said Yukio Ishizuki, currency strategist at Daiwa Securities in Tokyo, at a Reuters report.
"In case there aren't any surprises in the Fed, the speculators might have to give up their buck shorts. The largest reaction is in dollar/yen, since you can not really buy the pound or the euro right now."
U.S. President Donald Trump told reporters on Tuesday that Washington might attain a trade deal with China prior to the U.S. presidential election.
The president stated that China would rather take care of somebody else, but cautioned that provisions of this deal will probably be"much worse" when it arrived after the 2020 election.
"I believe there will be a bargain possibly soon, possibly before the election, or one day following the election. And when it is after the election, then it is going to be a bargain just like you have never noticed, it is going to be the best deal and China understands that," Trump said.
The USD/CNY pair traded 0.1% reduced at 7.0866.
The USD/JPY set ups up 0.1percent to 108.19. The yen was moved by White House adviser Larry Kudlow's remarks that Trump and his administration could officially announce a trade deal with Japan following week.
The GBP/USD pair slipped 0.1percent to 1.2486 as opinion remained weak amid doubt over Brexit.