Federal Reserve chair Kevin Warsh said no part of the Fed's dual mandate has been neglected.

ECB executive board member Patsalides said time is undoubtedly working against us on inf.

ING said if the Fed holds rates on Wednesday the dollar is likely to come under pressure and fall with oil. The dollar spot index was nearly flat for a fourth session after appearing insulated from recent oil swings. On Wednesday the 60-day rolling correlation between the dollar spot index and Brent futures fell to its lowest since late March. ING strategist Francesco Pesole said a Fed hold should trigger precautionary dollar position unwinds, re-linking the currency to oil’s downward signals.