Dollar weakens after Fed holds rates in a split decision

MacroDigital Finance
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Summary · why it matters

The US dollar weakened against major currencies in New York trading after the Federal Reserve voted 9 to 3 to hold short-term interest rates at 3.50 to 3.75 percent, as expected. The dollar index fell 0.52 percent to 100.886, while the euro strengthened to 1.1452 dollars and the pound firmed to 1.3364 dollars. The three dissenting FOMC members, Beth Hammack, Neel Kashkari, and Lorie Logan, wanted a quarter-point rate hike amid concerns that inflation has remained above the 2 percent target for more than five years. Investors are watching for key US economic data due out later this week.

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