India, March 19 -- The U.S. dollar advanced against its major counterparts in the New York session on Wednesday, ahead of the Federal Reserve's monetary policy announcement, due shortly.
With the Fed almost universally expected to leave rates unchanged, traders will look to the accompanying statement as well as officials' latest projections for clues about the outlook for rates.
CME Group's FedWatch Tool is currently indicating a 99.0 percent chance the Fed will once again leave interest rates unchanged.
The FedWatch Tool currently suggests the Fed is likely to leave rates unchanged again at its next meeting in early May, but the chances of a rate cut increase in June and July.
At the Fed's most recent meeting in late January, the centr...