Great Britain

U.S. dollar slips after Fed decision

NEW YORK, July 28 (Xinhua) -- The U.S. dollar weakened in late trading on Wednesday as market participants digested the latest policy statement from the Federal Reserve.

The dollar index, which measures the greenback against six major peers, decreased 0.16 percent at 92.2887.

In late New York trading, the euro was up to 1.1841 U.S. dollars from 1.1821 dollars in the previous session, and the British pound rose to 1.3906 dollars from 1.3885 U.S. dollars in the previous session. The Australian dollar increased to 0.7372 U.S. dollar from 0.7360 dollar.

The U.S. dollar bought 109.95 Japanese yen, higher than 109.72 Japanese yen of the previous session. The U.S. dollar fell to 0.9106 Swiss franc from 0.9142 Swiss franc, and it was down to 1.2526 Canadian dollars from 1.2591 Canadian dollars.

The above market reactions came as the U.S. central bank on Wednesday kept its benchmark interest rate unchanged at the record-low level of near zero amid growing concerns over surging inflation and the rapid spread of the Delta variant.

"The path of the economy continues to depend on the course of the virus. Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain," the Fed said in a statement after concluding a two-day meeting.

While indicators of U.S. economic activity and employment "have continued to strengthen," the sectors most adversely affected by the pandemic "have not fully recovered," the Fed said.

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