Singapore, February 04 (QNA) - The US dollar held steady on Wednesday as investors remained cautious despite the swift resolution of a partial government shutdown, while the yen wobbled near a two-week low ahead of an unpredictable national election in Japan this weekend.

The euro was at $1.1814 in early trading, while sterling stood at $1.3693, steady ahead of policy meetings at the European Central Bank and the Bank of England on Thursday. Both central banks are expected to stand pat on rates.

The dollar index, which measures the greenback against six major currencies, was at 97.43, not far from the one-week high of 97.73 it touched on Monday. The index fell 1% in January after dropping 9.4% last year.

The yen was slightly softer at 156.06 per dollar on Wednesday, inching closer to its weakest since January 23, when the currency strengthened sharply from 159.23 amid speculation the New York Federal Reserve was conducting rate checks, which could mean a possible intervention in the yen market.

The Australian dollar was at $0.7028 after a sharp 1% rise in the previous session as the Reserve Bank of Australia hiked interest rates, leaving markets wagering further hikes would be needed this year. The New Zealand dollar edged lower at $0.604. (QNA)