Dollar Holds Firm Despite Oil Price Plunge

US stocks closed mixed on Wednesday, with the Dow up and S&P unchanged, while the Nasdaq modestly lower. Oil prices plummeted by over $7 in trading today, but traders seem to be keeping their eyes on this week's Federal Reserve decision.

The decline in oil was helped by geopolitical tensions easing modestly after the US and Iran paused direct military strikes, with President Trump saying talks with Iran are underway.

However, traders remain wary as risks persist. The dollar held relatively steady, allowing it to remain supported ahead of what is expected to be a cautious, potentially hawkish message from the Fed.