Dollar Drops After Fed Keep Interest Rates Unchanged
NEW YORK – The Dollar Drops After Fed Keep Interest Rates Unchanged; The Dollar Fell on Thursday after the Federal Reserve kept the (US central bank) interest rates unchanged in the light of a series of global challenges also cut its forecast for the US economy in the long run.
The US currency touched its lowest level in three weeks against the euro and the lowest levels in two weeks against the Swiss franc.
The new economic forecast showed that 13 of the 17 policy makers expect the Federal Reserve to raise interest rates once at least in 2015, down from 15 in the last meeting in June.
It is believed four of them now that he should not raise interest rates before 2016, at least compared with the two said that in June.
The bank said in its statement on the policy after the end of the two-day meeting on “the global economic and financial developments in recent times may restrict economic activities to some extent is likely to increase the downward pressure on inflation in the near term.”
The euro rose to its highest level in three weeks to $1.1420 in later trading was trading up 0.9 percent to $1.1387.
Against the yen, the dollar fell 0.3 percent to 120.20 yen.
The dollar fell to its lowest level in two weeks against the Swiss franc and was trading in the latest trading down 0.9 percent at 0.9618 francs….