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31/07/24
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USD Slightly Trims Losses After FMOC Meeting Statement
On Wednesday, the US dollar slightly trimmed losses after the Federal Reserve kept interest rates steady although it opened the door to cut borrowing costs as soon as the next meeting in September, as was generally expected.
At the end of a two-day policy meeting, the central bank’s Federal Open Market Committee said in a statement there had been some more progress toward the Committee’s target of 2% in inflation.
The U.S. dollar index, which measures its strength against 6 other major currencies, including the euro and the yen, was last 0.1% lower for the day at 104.34, with the euro dropping to $1.0806, 0.08% lower.
The US dollar was also 1.02% lower at 151.2 Japanese yen.
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