Wednesday saw a little increase in the dollar on the verge of the final Fed’s policy meeting, which may provide some indication of the interest rate’s trajectory and when the central bank may start cutting it.

The dollar index that measures the greenback versus its major pairs edged up by 0.2% at 103.94, recovering from its earlier slip by 0.31%.

Investors will be closely observing whether Fed Chair Jerome Powell backs off the possibility of interest rate decreases in the first half of 2024, as well as what the central bank's "dot plot"—a term used to describe its policymakers' outlook—says about their prognosis for monetary policy.

Though data released tonight revealed consumer prices unpredictebly increased in November, recent indicators pointed to a soft landing. Up to four quarter-point rate cuts are anticipated by traders in the futures market this year, with the first one occurring at the beginning of May.

EUR/USD ticked up at $1.0786.

GBP/USD rose by 0.3% at $1.2525 following the release of GDP data in UK.

USD/JPY added 0.16% to 145.67.