India, May 6 -- The U.S. dollar fell against its major counterparts in the New York session on Tuesday, as investors awaited monetary policy decision from the Federal Reserve due on Wednesday.
The Fed is widely expected to leave interest rate unchanged in the range of 4.25%-4.50% when it concludes its two-day meeting on Wednesday.
Traders will scrutinize the accompanying statement for clues about the outlook for rates.
In economic news, the Commerce Department released a report showing the U.S. trade deficit spiked much more than expected in the month of March.
The report said the trade deficit soared to a record high $140.5 billion in March from a revised $123.2 billion in February.
Economists had expected the trade deficit to widen t...