India, March 19 -- The U.S. dollar pared some gains Wednesday afternoon after the Federal Reserve, which left interest rate unchanged, signaled two quarter percentage point cuts this year.
The Fed also lowered its GDP growth projections and raised its inflation forecast.
Traders looked ahead to the monetary policy announcements from the Bank of England and the Swiss National Bank. The two banks are scheduled to announced their rate decisions on Thursday.
The Bank of Japan left its interest rate unchanged after hiking the rate by a quarter-point early this year, amid rising concerns about the US trade policies and its impact on economic activity and prices.
At a two-day meeting that ended on Wednesday, the policy board, governed by Kazuo...