US Dollar Falls as Fed Holds Rates Steady
The US dollar fell against major currencies on Wednesday after the Federal Reserve held interest rates steady. Meanwhile, the New Zealand dollar dropped sharply following an unexpected hold.
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The United States dollar fell against major currencies on Wednesday afternoon after the FOMC held interest rates steady at 5.25%. The move matched investor expectations while traders awaited further inflation data. The greenback lost ground as Chair Kevin Warsh signaled a cautious path forward during a press briefing.
