The U.S. dollar ended lower against most major currencies on Tuesday, extending its losses from last week after Federal Reserve's dovish rate-hike outlook.
The Fed decided to raise the target range for the federal funds rate by 25 basis points to 0.75-1.0 percent last Wednesday.
The U.S. central bank also said that policymakers expected the interest rate to rise to around 1.4 percent at the end of 2017, unchanged from the original estimates, implying two more rate-hikes later this year.
The greenback has been under pressure since then as the Fed failed to signal a faster pace of future rate-hikes.
The dollar index, which measures the greenback against six major peers, was down 0.64 percent at 99.769 in late trading on Tuesday.
In late New York trading, the euro rose to 1.0802 dollars from 1.0736 dollars in the previous session, and the British pound climbed to 1.2483 dollars from 1.2347 U.S. dollars in the previous session. The Australian dollar decreased to 0.7699 U.S. dollar from 0.7733 U.S. dollar. The U.S. dollar bought 111.88 Japanese yen, lower than 112.57 yen of the previous session. The U.S. dollar dipped to 0.9942 Swiss franc from 0.9985 Swiss francs, and it edged down to 1.3348 Canadian dollars from 1.3356 Canadian dollars.
Latest comments