Long-term U.S. interest rates have risen as the market has started to price in the likelihood that the Federal Reserve will keep raising rates beyond 5 percent.
Another interest rate hike in March is a 'done deal' among market participants and a pause is likely to come after that in May.
I don't think the Fed will surprise the market but it will see if there are any hints available from the statement.
The dollar's rise was the result of position-adjustment with market developments overseas failing to give clear direction.
The market is closely watching if there are any other comments on the US economy or interest rate hikes as the Fed meeting (on January 31) is getting closer.