The U.S. dollar inched down to the lower 111 yen zone Wednesday in Tokyo with the market in a wait-and-see mood for the results of the U.S. Federal Reserve's policy meeting due out later in the day.

At 5 p.m. local time, the dollar was quoted at 111.39-40 yen compared with 111.55-65 yen in New York and 111.70-71 yen in Tokyo at 5 p.m. Tuesday. The dollar fluctuated between 111.34 yen and 111.65 yen during the day.

The euro fetched 1.1998-2000 dollars and 133.65-69 yen against 1.1989-1999 dollars and 133.81-91 yen in New York and 1.1993-1995 dollars and 133.96-134.00 yen in Tokyo late Tuesday afternoon.