SINGAPORE: The dollar nudged higher on Thursday as traders scaled back bets of a U.S. rate cut in December following push back from Federal Reserve Chair Jerome Powell, pinning the yen near an eight-month low ahead of the Bank of Japan's (BOJ) rate decision.

The day was shaping up to be another busy one for markets with the BOJ's policy announcement due and a highly anticipated meeting between U.S. President Donald Trump and China's leader Xi Jinping, where the two will seek to de-escalate their trade war.