Trader Greg Mulligan works on the floor of the New York Stock Exchange, Wednesday, May 2, 2018. Stocks are opening moderately lower as Wall Street reacts to another big round of company earnings. (AP Photo/Richard Drew)
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The U.S. dollar rose to four-month highs against a basket of major currencies and world stock indexes mostly edged lower Wednesday as investors awaited the outcome of a Federal Reserve meeting and possible indications on the interest rate outlook.The Fed is likely to announce at 2 p.m. EDT (1800 GMT) that it is holding interest rates steady, but it could encourage expectations of a rate increase in June.The gains came amid signs the Fed will be the only major central bank to raise rates in the coming months.Markets are currently pricing in an additional two rate hikes this year.
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