The dollar ceded some of its overnight gains on Wednesday while Asian stocks put in a mixed display as traders weighed the odds of a super-sized Federal Reserve interest rate cut later in the day.The U.

With likely weakness in the US dollar, it allows Asian central banks to ease monetary policy, said one observer. Read more at straitstimes.com.

The Fed lowered its window for the benchmark policy rate by 50 basis points to 4.75%-5%, where traders had been leaning before the decision. The dollar first fell broadly, hitting a two-and-a-half-year low on sterling, but then recoiled sharply.