The dollar surrendered some of its overnight gains against the yen on Wednesday, as investors tweaked their positions ahead of a policy meeting expected to initiate a U.S. easing cycle.The Federal Reserve is expected to make its first interest rate cut in more than four years at 1800 GMT,

The dollar edged higher in choppy trading after the Federal Reserve on Wednesday cut interest rates by half a percentage point, citing greater confidence that inflation will continue to recede to the U.

This has been corrected to reflect that the Fed moved to cut rates twice by 50 basis points and 100 basis points in March 2020. The U.S. dollar has been sliding in the run-up to a widely expected interest-rate cut from the Federal Reserve on Wednesday and,