The dollar was steady, trading in narrow ranges against major currencies, as markets wait for tonight's Federal Open Market Committee meeting and the central bank's outlook statement. The Fed is widely expected to keep interest rates on hold at 5.25 pct for the 11th month running, but with data this month indicating that US inflation may be beginning to fall, attention will be on whether the statement adopts a more dovish tone compared to recent months. "There is room for a slight dovish tilt compared to the March statement that will help sustain the market's belief that rates will be eased at some stage," said Gavin Friend, currency strategist at Commerzbank. If the statement is more dovish than expected, then the dollar could sink further below its all-time low against the euro of 1.3682, reached two weeks ago. Also of interest in the US today will be a joint tri-partite hearing in the House of Representatives on currency manipulation and its effects on US businesses and workers. Analysts at BNP Paribas said if the meeting takes a protectionist stance the dollar is likely to come under pressure, particularly against Asian currencies. Meanwhile the euro was also steady, largely unaffected by data showing Germany's trade surplus grew to 18.4 bln eur from 14.2 bln in February. Analysts had forecast a smaller increase to 15.4 bln eur. The figures indicate the strong euro has had little impact on German trade so far.