The dollar rose against other major currencies Wednesday, recovering from declines in the previous session as investors await an interest-rate decision from the Federal Reserve. The Fed is widely expected to keep rates on hold for a sixth consecutive meeting, maintaining its federal funds rate target at 5.25%. Traders will focus on the accompanying statement for hints as to what might happen for the remainder of the year. The Fed will announce its decision at 2:15 p.m. Eastern. "Today's session may produce much heat but little light as prices could simply seesaw around the 1.3300 level" for the euro/dollar, said Boris Schlossberg, senior currency strategist at DailyFX.com, in a note. "The Fed is unlikely to waver far from its past statements and may in fact issue a hawkish message, emphasizing the recent rises in U.S. inflation." In early New York trading, the dollar was quoted at 117.90 yen, compared with 117.27 yen late Tuesday. The euro stood at $1.3295, compared with $1.3314. The British pound traded at $1.9576, compared with $1.961. The dollar changed hands at 1.2141 Swiss francs, compared with 1.2117 francs. The euro fetched 156.76 yen, compared with 156.16 yen.