Dollar Little Changed After Fed's Expected Hold

Dow Jones02:37

1437 ET - The dollar is unmoved by the Fed's decision to hold rates steady, which was widely expected. Two FOMC members dissent to vote for a hike. "We think the smaller-than-expected number of dissents and cautionary language inserted at the end of the statement should be read dovishly on the margins," Corpay's Karl Schamotta writes. He adds that "[the] cross-currency rate differentials that helped support the dollar's gains earlier this autumn are likely to hold firm for now." The WSJ Dollar Index rises 0.1% as the greenback strengthens 0.2% versus the yen while weakening 0.1% against the euro.

 

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