FXStreet reports that analysts at Danske Bank note that the FOMC decision is the main event risk for Wednesday.

“Today's main event is the FOMC meeting. It is one of the interim meetings without updated projections (including Fed dots). We do not expect the Fed to send any new policy signals. We expect the Fed to repeat that high inflation is mostly transitory and that the labour market recovery has further to go still. Fed Chair Powell's press conference begins at 18:30 GMT.”