The dollar was under slight pressure against major counterparts early Wednesday, after a report showed consumer prices rose more than expected in February, while traders awaited the policy statement from the Federal Reserve this afternoon. The dollar index , which measures the U.S. unit against a basket of six major currencies, stood at 86.502, down from 86.863 in London trade, and down from 86.861 late on Tuesday. Consumer prices rose 0.4% in February, more than economists' expected. Excluding food and energy prices, the core CPI increased 0.2% for the second month in a row, boosted by higher prices for new cars, clothes and cigarettes.

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