GLOBAL MARKETS-Dlr edges down, Asia stocks up before Fed

* Dollar down after hitting one-month high, eyes on Fed

* Asian stocks edge up as Seoul boosted by bank results

* Oil edges lower after Tuesday surge; gold down

By Elaine Lies

TOKYO, Nov 4 (Reuters) - The dollar lost ground on Wednesday after hitting a one-month high against a basket of currencies, while Asian stocks edged higher in muted trade ahead of central bank meetings that kept investors wary.

Oil fell for the first time in three days after a 2 percent surge on Tuesday and gold eased after hitting a record high, but the afterglow helped boost resource-linked shares.

Most investors turned their attention to the U.S. Federal Reserve, which ends its two-day meeting on Wednesday. While it is expected to keep interest rates unchanged, some in the market wonder if it might drop or alter its pledge to keep rates low for an "extended period". [nFEDAHEAD]

"There is some speculation that they will soften their reference to 'extended period' and I agree that they'll have to do that soonish, yet I am not convinced they will do it at this meeting," said Adam Carr, senior economist at ICAP.

"It's the ongoing risk though and there is clearly a very vigorous debate occurring at the Fed," he added.