Dollar slips to four-week low

  22 September 2016    Read: 1032
Dollar slips to four-week low
The dollar stumbled to a near 4-week low against the yen on Thursday, after the U.S. Federal Reserve kept monetary policy steady and projected a less aggressive path for interest rates hikes in coming years, Reuters reported.
The dollar touched a low of 100.10 yen JPY= at one point, its weakest since Aug. 26. The greenback later pared some losses and was last trading at 100.25 yen, down 0.1 percent on the day.

The euro edged up 0.2 percent to $1.1202, having pulled up from Wednesday`s trough of $1.1123.

While the Fed strongly signaled that it could still tighten monetary policy by the end of the year, policy makers cut the number of rate increases they expect this year to one from two. They also forecast a less aggressive rise in interest rates next year and in 2018, according to the median projection of forecasts released with its post-meeting statement.

More about:


News Line