Hot Now: Dollar stable

SINGAPORE: The dollar bobbed above a 13-month low against a basket of major currencies on Wednesday, as investors awaited the U.S. Federal Reserve´s policy statement for clues on the course of its next monetary tightening.

Traders also kept an eye on the U.S. Senate, which narrowly agreed to open debate on a bill to end Obamacare.

But the wafer-thin victory on a simple procedural matter raised questions about whether Republicans will be able to muster the votes necessary to pass any of the various approaches to repeal.

In a first of the many votes likely to come this week, the plan to repeal and replace Obamacare - passage of which is needed to fund fiscal stimulus - failed to get the 60 votes needed for approval.

"It seems like they started debate without clear view on where this will end. In a way they were able to agree to start debate precisely because neither moderates nor conservatives didn´t know the final shape.

Things still look very fluid," said a senior trader at a Japanese brokerage house. The dollar was little moved on the latest news. The dollar index, which measures the greenback against a basket of six major currencies, edged slightly higher to 94.109.