NEW YORK, March 20 (Xinhua) -- U.S. dollar drops in late trading on Wednesday, as investors digested U.S. Federal Reserve's decision to keep interest rates unchanged on Wednesday.
The Federal Open Market Committee (FOMC) decided to maintain the target range for the federal funds rate at 2.25 percent to 2.5 percent, the central bank said in a statement.
"In light of global economic and financial developments and muted inflation pressures, the Committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes," it said.
In late New York trading, the euro increased to 1.1445 U.S. dollars from 1.1352 dollars in the previous session, and the British pound fell to 1.3245 dollars from 1.3268 U.S. dollars in the previous session. The Australian dollar rose to 0.7142 dollar from 0.7090 dollar. The U.S. dollar bought 110.62 Japanese yen, lower than 111.41 Japanese yen of the previous session. The U.S. dollar fell to 0.9900 Swiss franc from 0.9992 Swiss franc, and it was down to 1.3269 Canadian dollars from 1.3309 Canadian dollars.
The Federal Open Market Committee (FOMC) decided to maintain the target range for the federal funds rate at 2.25 percent to 2.5 percent, the central bank said in a statement.
"In light of global economic and financial developments and muted inflation pressures, the Committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes," it said.
In late New York trading, the euro increased to 1.1445 U.S. dollars from 1.1352 dollars in the previous session, and the British pound fell to 1.3245 dollars from 1.3268 U.S. dollars in the previous session. The Australian dollar rose to 0.7142 dollar from 0.7090 dollar. The U.S. dollar bought 110.62 Japanese yen, lower than 111.41 Japanese yen of the previous session. The U.S. dollar fell to 0.9900 Swiss franc from 0.9992 Swiss franc, and it was down to 1.3269 Canadian dollars from 1.3309 Canadian dollars.
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