$USDC

The US Dollar slides lower ahead of the Fed's decision as tensions in the Middle East persist

The US Dollar Index (DXY), which measures the value of the Dollar against a basket of six major currencies, is trading slightly lower on Wednesday after gaining about 0.7% the day before. Traders remain cautious ahead of the Federal Reserve's (Fed) interest rate decision scheduled for 18:00 GMT, which could set the tone for the Dollar's next move.

The DXY is at a balance point, floating just below Tuesday's high and its 21-day exponential moving average (EMA). At the time of writing, the index is trading around 98.60, with an intraday high of 98.88, as traders refrain from making aggressive bets.