The Federal Open Market Committee is due to release the minutes from its most recent policy meeting later on Wednesday.
Investors will scour the minutes for any indications of Fed thinking, but Friday's monthly employment report will almost certainly carry more weight, analysts said.
The dollar hovered around 144.3 yen, below the 145 level that prompted intervention by Japanese authorities last autumn.
"However more broadly, it will provide support ... on expectations of an imminent policy response from Chinese authorities."
The yuan headed for its first down day in four sessions in the offshore market, slipping 0.3% to 7.255 per dollar .
Persons:
Adam Cole, Shusuke Yamada, RBC's Cole, it's, Tony Sycamore, Kevin Buckland, Shri Navaratnam, Helen Popper, Mark Heinrich Our
Organizations:
U.S, Federal, Fed, RBC, Treasury, Bank of America, Ministry, Finance, People's Bank of China, IG, Thomson
Locations:
synch, Tokyo, Beijing, Sydney