US$ inches up as markets await Fed statement

London

THE US dollar inched up against most major currencies on Wednesday, as investors eyed a US Federal Reserve statement later in the day for guidance on whether bets for a June interest rate hike are justified.

The Fed is widely expected to keep interest rates unchanged at the end of its two-day policy meeting on Wednesday, but investors will be looking to see whether the central bank downplays the recent soft patch in the economy to leave the door open for a move next month.