U.S. dollar mixed as Fed meeting starts

The U.S. dollar traded mixed against other major currencies on Tuesday as the Federal Reserve kicked off its two-day monetary policy meeting.

It is widely expected that the U.S. central bank would keep interest rates unchanged when the meeting concludes on Wednesday.

According to the CME Group's FedWatch tool, market expectations for a May rate-hike were just 4.8 percent.

Meanwhile, investors were also awaiting the closely-watched nonfarm payroll report, which is due out on Friday

The dollar index, which measures the greenback against six major peers, was down 0.04 percent at 99.038 in late trading.

In late New York trading, the euro rose to 1.0923 dollars from 1.0906 dollars, and the British pound climbed to 1.2924 dollars from 1.2908 U.S. dollars in the previous session. The Australian dollar decreased to 0.7528 U.S. dollar from 0.7534 U.S. dollar.

The U.S. dollar bought 112.05 Japanese yen, higher than 111.83 yen of the previous session. The U.S. dollar dropped to 0.9926 Swiss franc from 0.9954 Swiss franc, and it edged up to 1.3724 Canadian dollars from 1.3663 Canadian dollars. Endit