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FOREX-Dollar drops after Fed holds rates steady, risk assets gain

Published 06/20/2019, 02:13 AM
Updated 06/20/2019, 02:20 AM
© Reuters. FOREX-Dollar drops after Fed holds rates steady, risk assets gain
EUR/USD
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NEW YORK, June 19 (Reuters) - The dollar weakened against
other major currencies on Wednesday after the Federal Reserve
held interest rates steady at its regular meeting, but signaled
a possible rate cut of as much as a half a percentage point by
the end of the year.
Against the euro, the dollar was down 0.46% to $1.124
EUR= , and against the pound it was down 0.8% to $1.267. The
dollar index, which measures the currency against a basket of
six rivals, was down 0.51% to 97.148. The drop slowed however as
the market digested the news and some initial losses were
retraced.
In response to the announcement, investors moved money out
of safe-haven assets like the dollar and U.S. Treasuries and
into stocks.

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