Updates for the Asian afternoon

By Brigid Riley

TOKYO, Feb 19 (Reuters) - The U.S. dollar steadied on Wednesday as investors eyed tariff threats and tense Russia-Ukraine negotiations, while the New Zealand dollar clawed back losses after the central bank indicated its aggressive rate cuts were set to slow.

The Reserve Bank of New Zealand reduced its benchmark rate by 50 basis points to 3.75% on Wednesday as widely expected. The latest cut brings the cumulative easing to 175 basis points since August as the RBNZ aims to support a sluggish economy.

But while the central bank signalled that more rate reductions are to come, it also suggested that further moves would be smaller with the end of the easing cycle coming closer into view.

The kiwi NZD=D3 was last up 0.28% at $0.572.

Economists at Westpac are calling for quarter basis point reductions at the RBNZ's meeting in April and May.

"We think the RBNZ will pause at this point as by then there will be tangible signs of a return to trend growth, while inflation will still be in the top half of the 1-3% target range," they wrote in a research note.

In the broader market, currencies were largely steady as investors sized up the latest note in U.S. President Donald Trump's tariff crescendo and uncertainty after initial Russia-Ukraine peace talks finished without Kyiv or Europe at the table.

Ukraine President Volodymyr Zelenskiy said no peace deal could be made behind his back. He postponed his visit to Saudi Arabia planned for Wednesday until March 10 to avoid giving "legitimacy" to the U.S.-Russia talks.

Russia hardened its demands, notably insisting it would not tolerate the NATO alliance granting membership to Kyiv.

Hopes of a peace agreement had buoyed the euro EUR=EBS to a two-week high last week, but the EU bloc currency has slid in recent days. It was last 0.06% higher at $1.0451.

"The euro (is) a little unsettled by the clear divisions between the U.S. and Europe regarding the war in Ukraine," said Sean Callow, senior FX analyst at InTouch Capital Markets.

The greenback shot up on Tuesday, helped by euro softness, but remained not far off a two-month low of 106.56 touched on Friday despite tariff pledges.

Trump said on Tuesday he intends to impose auto tariffs "in the neighbourhood of 25%" and similar duties on semiconductors and pharmaceutical imports, although additional details won't come until April 2.

"So long as Trump is viewed as the boy who cried wolf on tariffs, chunky USD long positions will come under pressure," Callow said.

Investors were also awaiting the release of minutes of the Federal Reserve's January meeting on Wednesday for clues on how policymakers factored in the risk of a global trade war.

Markets have about 36 basis points of Fed cuts priced in for 2025.

The dollar index =USD, which measures the greenback against a basket of rivals, was little changed at 106.97.

Against the yen JPY=EBS, the dollar weakened 0.16% to 151.83.

Prospects of a rate hike at the Bank of Japan's July meeting are growing, helping to buoy the Japanese currency, but questions remain about the pace and extent of continued tightening.

BOJ board member Hajime Takata reinforced on Wednesday recent hawkish communications, saying the central bank must raise rates to avoid inflation risks, although he refused to comment on how far rates could go.

Sterling GBP=D3 was nearly flat at $1.26175 after brushing a two-month high of $1.2641 in early trade, ahead of an inflation reading for the UK due later in the day.

The Australian dollar AUD=D3 rose 0.17% to $0.63645. Data on Wednesday showed domestic wages rose at the slowest annual pace in more than two years in the fourth quarter.

(Reporting by Brigid Riley; Editing by Sam Holmes and Kim Coghill)

((brigid.riley@thomsonreuters.com;))