The yield on the 2-year Treasury note moved slightly lower after Fed officials reduced their projections for the number of interest-rate cuts they expect through the end of 2027 in their June dot plot.

Treasury yield is inching lower as traders await the Federal Reserve's policy decision, due at 8:30 a.m. Eastern. The U.S. central bank will also release its Summary of Economic Projections, and a press conference by Chair Jerome Powell will start at 2:30 p.

U.S. Treasury yields were little changed on Wednesday as investors awaited the Federal Reserve's rate policy decision as tensions escalated in the Middle East.

The dollar falls as investors turn cautious ahead of the Federal Reserve’s policy decision later. The widening of conflict in the Middle East and unpredictability of U.S. trade policy means the Fed is expected to leave interest rates unchanged in a decision at 1800 GMT,