The dollar ceded some of its overnight gains on Wednesday while Asian stocks struggled as traders weighed the odds of a super-sized Federal Reserve interest rate cut later in the day.The U.S. currency dropped back sharply against the yen,

Asian shares were trading mixed Wednesday as markets focused on prospects for the U.S. Federal Reserve’s first cut to interest rates in more than four years. The Bank of Japan and the Bank of England are also holding monetary policy meetings later this week.

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.