* ASX 200 marks fourth day of gains

* Fortescue hits record high

* Fed policy decision due in U.S. trading hours

Dec 13 (Reuters) - Australian shares ended higher on Wednesday, with financials and mining stocks leading gains, while investors awaited the U.S. Federal Reserve's policy decision for clues on the interest rate trajectory.

The S&P/ASX 200 index closed 0.3% up at 7,257.80 - its highest closing level in nearly three months. The benchmark rose for a fourth consecutive session. It had ended 0.5% higher on Tuesday.

Markets are waiting for the outcome of the Fed's two-day meeting, ending on Wednesday, where the central bank is widely expected to keep interest rates unchanged.

Investors will look for clues on the Fed's timing for rate cuts, even as U.S. inflation unexpectedly rose in November, dampening hopes of the central bank pivoting to cuts early next year.

"Any data that confirms policy rates have peaked in the U.S. or Australia will support both bond and equity markets, especially if that data relates to easing pressure on inflation from a looser stance in the labour market," said Kerry Craig, global market strategist at J.P. Morgan.

In Sydney, financials closed 0.6% higher, with the 'Big Four' banks rising between 0.5% and 1%.

Heavyweight mining stocks advanced 0.2% as iron ore futures jumped.

Fortescue rose 1.3% to hit a record high, Rio Tinto jumped 1% to a two-year high, and BHP Group gained 0.6%.

"The U.S. dollar is likely to continue to weaken and buoy commodity prices, in turn supporting Australia's mining stocks," said Tina Teng, market analyst at CMC Markets.

The U.S. dollar is trading flat at 103.86.

The healthcare sub-index also closed up 1.1%.

In contrast, energy stocks slipped 0.8% after oil prices fell over 3% overnight on oversupply concerns.

Among individual stocks, Sigma Healthcare reported its best day ever, soaring as much as 76% and closing up 48.1% after the company said it would merge with Chemist Warehouse Group to form an A$8.8 billion ($5.77 billion) entity.

New Zealand's benchmark S&P/NZX 50 index ended 0.8% higher at 11,475.77 points. (Reporting by Shivangi Lahiri in Bengaluru; Editing by Sonia Cheema)