U.S. dollar dips amid Fed decision

0 Comment(s)Print E-mail Xinhua, June 20, 2019
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NEW YORK, June 19 (Xinhua) -- The U.S. dollar weakened against its major rivals in late trading on Wednesday amid the Federal Reserve's decision to keep interest rates unchanged.

The U.S. central bank on Wednesday announced to hold rates steady as officials weighed mixed signals on the health of the U.S. economy and the impact of trade tensions.

The Federal Open Market Committee, the Fed's policy-making panel, decided to maintain the target range for the federal funds rate at 2.25 percent to 2.5 percent, the Fed said in a statement after concluding a two-day policy meeting.

The central bank noted that the U.S. labor market "remains strong" and economic activity "is rising at a moderate rate" since May, while indicators of business fixed investment "have been soft" and uncertainties about the economic outlook "have increased."

The dollar index, which measures the greenback against six major peers, decreased 0.53 percent at 97.1287 in late trading.

In late New York trading, the euro increased to 1.1244 dollars from 1.1194 dollars in the previous session, and the British pound rose to 1.2666 dollars from 1.2560 U.S. dollars in the previous session. The Australian dollar was up to 0.6889 dollar from 0.6874 dollar.

The U.S. dollar bought 107.97 Japanese yen, lower than 108.44 Japanese yen of the previous session. The U.S. dollar decreased to 0.9922 Swiss franc from 1.0000 Swiss franc, and it was down to 1.3292 Canadian dollars from 1.3382 Canadian dollars. Enditem

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