Dollar Weakens Following Federal Reserve Statement

The dollar weakened against the euro and the pound on Wednesday, after the Federal Reserve voted to hold off against raising interest rates at its September meeting. The euro [S: EURUSD] traded at $1.1184, compared with $1.1156 before the release of the Fed statement and 1.1152 late Tuesday. The pound [S: GBPUSD] traded at $1.3020, breaking above the $1.30, which had been described as a psychologically important level. Prior to the statement, it had changed hands at $1.2987, compared with $1.2986 late Tuesday. The dollar traded at �100.55, compared with �100.83 before the statement, and �101.62 late Tuesday. The yen was also impacted after the Bank of Japan introduced new measures designed to increase inflation.