India, May 6 -- Cryptocurrencies remain muted as market spotlight has turned on the Federal Reserve's interest rate review due on Wednesday. Concerns over the uncertainty surrounding the resolution of trade disputes between the U.S. and its trading partners, most importantly China, weighed on sentiment. The weak sentiment is despite a decline in the strength of the U.S. Dollar.
Markets overwhelmingly expect the Fed to hold rates steady in the current review. The CME FedWatch tool that tracks the expectations of interest rate traders currently shows a 98.2 percent likelihood of a status quo on rates. However, the likelihood of rates remaining at the current level of 4.25-4.5 percent falls to 65.8 percent by June, 20.9 percent by July and 3....