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U.S. dollar declines after Fed holds rates steady

NEW YORK
2019-12-12 04:43

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NEW YORK, Dec. 11 (Xinhua) -- The U.S. dollar declined in late trading on Wednesday after the U.S. Federal Reserve held interest rates steady.

While the U.S. unemployment rate has been low and economy has been growing in a moderate pace, business fixed investment and exports remained weak, and overall inflation and inflation for items other than food and energy are running below 2 percent, the U.S. central bank's rate-setting committee said in a statement.

The committee decided to leave the target range for the federal funds rate unchanged at 1.5 percent to 1.75 percent.

The dollar index, which measures the greenback against six major peers, fell 0.36 percent at 97.0668 in late trading.

In late New York trading, the euro was up to 1.1138 U.S. dollars from 1.1095 dollars in the previous session, and the British pound increased to 1.3208 dollars from 1.3204 dollars in the previous session. The Australian dollar was up to 0.6888 U.S. dollar from 0.6813 U.S. dollar.

The U.S. dollar bought 108.49 Japanese yen, lower than 108.73 Japanese yen of the previous session. The U.S. dollar was down to 0.9816 Swiss franc from 0.9834 Swiss franc, and it was down to 1.3164 Canadian dollars from 1.3230 Canadian dollars.
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