India, Jan. 29 -- The U.S. dollar climbed higher on Wednesday after the Federal Reserve left interest rates unchanged and noted inflation remains "somewhat elevated."
The central bank, which reiterated its strong commitment to returning inflation to it 2% objective, said it will carefully assess incoming data, the evolving outlook, and the balance of risks when considering the extent and timing of additional adjustments to the target range for the federal funds rate.
The central bank's next monetary policy meeting is scheduled for March 18-19, when Fed officials will also provide their latest projections for rates, inflation and the economy.
CME Group's FedWatch Tool is currently indicating a 71.6% chance the Fed will once again leave ra...