USD/JPY tilted lower in Asian trade to March 13 lows amid a lack of data from Japan and ahead of US data, while the Federal Reserve wraps up its two day policy meeting. 

As of 05:51 GMT, USD/JPY fell 0.01% to 105.08, with a four-month trough at 104.96. 

From the US, the goods trade balance is expected to show a $75.5 billion deficit, up from $74.3 billion in May, while wholesale inventories are expected down 0.4% in June. 

Pending home sales are expected up 15.6% in June, compared to a 44.3% surge in May. 

The Federal Open Market Committee is wrapping up its policy meeting today, expected to maintain rates at near zero to support borrowing through December. 

The Fed extended the duration of loan support from September to December to bolster the economy during the pandemic, noting the move has already helped the labor sector, households, and companies considerably. 

Silver prices fell on Tuesday, to pare the early gains after breaching the $26/ounce barrier for the first time since April 2013.

The Federal Reserve will reveal its interest rate decision on Wednesday, which is widely expected to keep the interest rate unchanged, and the meeting will be followed by a press conference from Fed chair Jerome Powell.

The dollar index held against a basket of currencies at 93.7 points as of 20:29 GMT, after it hit a high of 94.01 and a low of 93.4.

Silver September futures fell 0.8% or 20 cents. to close at $24.30 an ounce, after hitting the highest level since April 2013 and today's high at $26.275 and the low of $22.46.

The American Petroleum Institute (API) revealed today in preliminary data that the US crude inventories fell by about 6.8 million barrels during the past week, beating expectations of a drop by 1.2 million barrels.

The gasoline inventories rose 1.1 million barrels, and the distillate inventories rose 187,000 barrels during the same period.

While the Energy Information Administration (EIA) will release the official data on Wednesday, which have a significant impact on oil prices movement.

US stocks fell on Tuesday, weighed down by the energy sector as oil prices fell, amid anticipation for the Federal Reserve's interest rate decision on Wednesday.

However, optimism took over the market for an effective and safe coronavirus vaccine coming down the pike in the next few months.

More companies continued to report their business results for the second quarter, and several tech giants, such as Apple, Alphabet and Amazon, will report their results later this week.

The Federal Reserve meeting has begun today and will continue until tomorrow, amid expectations for the Fed to keep the interest rate unchanged.

To the oil market, West Texas Intermediate crude fell 1.4% to close at $41.04 a barrel, after it hit a day high of $41.9 and a low of $40.8.

Brent fell 0.4% to $43.22 a barrel, with a high of $43.8 and a low of $43.00.

As for stocks, Dow Jones fell 0.7% or 205 points to close at 26,379, after it hit a day high of 26,556 and a low of 26,361.

Nasdaq fell 1.3% or 134 points to 10,402 points, with a high of 10,523 and a low of 10,398.

S&P 500 fell 0.6% or 21 points to 3,218, after it hit a day high of 3,243 and a low of 3,216 points.