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Australia, New Zealand Slip as U.S. Fed Word Looms

Australian and Japanese markets fell Wednesday as investors brace for the U.S. Federal Reserve’s rate decision, due early Thursday in Asia.

Investors will also keep an eye on the yen, which saw a volatile start to the week amid suspected intervention on Monday. The currency currently trades around the 157.7 level against the greenback.

Most Asian markets are closed on Wednesday due to the Labour Day holiday.

The Nikkei 225 dropped 131.61 points, or 0.3%, to 38,274.05.

In other markets

In New Zealand, the NZX 50 index demurred 89.92 points, or 0.8%, to 11,867.57.

In Australia, the ASX 200 fell 94.13 points, or 1.2%, to 7,569.95.

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