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US dollar slips after Fed holds interest rates steady

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US dollar slips after Fed holds interest rates steady

Euro was up to 1.1764 US dollar from 1.1721 dollars in the previous session, and the British pound increased to 1.2961 dollars from 1.2943 US dollars


The US dollar slipped in late trading on Wednesday after the Federal Reserve kept its interest rates unchanged at near zero.
The dollar index, which measures the greenback against six major peers, decreased 0.23 percent at 93.4759.

In late New York trading, the euro was up to 1.1764 US dollars from 1.1721 dollars in the previous session, and the British pound increased to 1.2961 dollars from 1.2943 US dollars in the previous session. The Australian dollar was up to 0.7168 U.S. dollar from 0.7161 dollar.

The US dollar bought 105.03 Japanese yen, lower than 105.09 Japanese yen of the previous session. The U.S. dollar was down to 0.9138 Swiss franc from 0.9174 Swiss franc, and it was up to 1.3364 Canadian dollars from 1.3360 Canadian dollars.

The US central bank on Wednesday kept its benchmark interest rate unchanged at the record-low level of near zero amid a recent resurgence in COVID-19 cases nationwide.

“The ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term,” the Fed said in a statement after concluding a two-day policy meeting, adding it decided to maintain the target range for the federal funds rate at 0-0.25 percent.

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https://dailyfeed.dailynewsegypt.com/2020/07/30/us-dollar-slips-after-fed-holds-interest-rates-steady/
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