The Fed kept rates steady at 4.25%-4.50%, signalling caution amid strong US growth and elevated inflation. Meanwhile, the ECB faces pressure to cut rates further as the eurozone economy weakens. The euro fell to 1.

Equity markets diverged Wednesday as attention turned away from recent turbulence in tech stocks to the outlook for interest rates, with the Fed and the ECB both holding their first

The dollar steadied on Wednesday ahead of the U.S. Federal Reserve's policy decision, with investors on edge for hints of how much interest rates might fall this year, while they broadly expect the central bank to keep policy unchanged for now.