The dollar remains stable as investors watch the Israeli-Iranian conflict ahead of the Fed meeting. However, the greenback maintained its gains against major currencies early Wednesday, supported by security demand.

The Indian rupee is expected to open lower on Wednesday, approaching its lowest level in two months, weighed down by rising crude oil prices amid escalating tensions between Iran and Israel and concerns over capital outflows. The 1-month undeliverable futures contract indicated an opening in the range 86.38-86.42, compared to 86.24

Brent crude futures climbed by more than 4% on Tuesday, with the rise holding steady throughout Wednesday's Asian session, due to concerns that the ongoing conflict between Iran and Israel could disrupt supplies.

Australian and New Zealand dollars tried to recover on Wednesday after a night-time fall, although much will depend on how the Israeli-Iranian conflict evolves, with President Donald Trump warning that US patience is running out.

Aussie rebounded 0.4% on Wednesday to $0.6496, after sliding 0.8% overnight to $0.6467.

The New Zealand dollar rose slightly by 0.2% to $0.6027, after falling by 0.8% overnight.

It has solid support around $0.5996.