FOREX-Dollar pares losses after Fed statement

Published on February 02, 2023 06:17 AM AEDT

FOREX-Dollar pares losses after Fed statement — Image source: ©2022 Kalkine Media®

(Recasts with Fed rate decision; adds quotes, updates prices)

NEW YORK, Feb 1 (Reuters) - The dollar pared losses on Wednesday after the Federal Reserve hiked rates by 25 basis points, as was widely expected, and promised "ongoing increases" in borrowing costs as part of its still unresolved battle against inflation.

The Fed said the U.S. economy was enjoying "modest growth" and "robust" job gains, with policymakers still "highly attentive to inflation risks."

The dollar was last down 0.17% on the day against a basket of currencies at 101.90, after earlier falling to 101.64. The euro was last at $1.09090 against the greenback, up 0.45% on the day, and the dollar was down 0.38% on the day against the Japanese yen at 129.63.

(Reporting by Karen Brettell; Additional reporting by Joice Alves in London; Editing by Jonathan Oatis and Diane Craft)

Reuters

Reuters -
164887 Posts
...

Disclaimer

The above content is directly sourced from Reuters under a contractual arrangement. The content is being provided as a convenience and for informational purposes only; and does not constitute an endorsement or approval by Kalkine Media of any of the products, services, or opinions of the organization or individual. The user is apprised that Kalkine Media bears no responsibility for the accuracy, legality, or content of Reuters, any external sites, or for that of subsequent links. The user is requested to contact Reuters directly for answers to questions regarding the content. Please note that Kalkine Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.