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Dollar hits two-year lows as Fed affirms dovish stance

Dollar hits two-year lows as Fed affirms dovish stance

By NEW YORK (Reuters) - The U.S. dollar fell to a two-year low on Wednesday after the Federal Reserve repeated a pledge to use its “full range of tools” to support the U.S. economy and keep interest rates near zero for as long as it takes to recover from the fallout from the coronavirus outbreak.The U.S. central bank cited concerns about economic activity and employment remaining “well below their levels at the beginning of the year.”“It is definitely a bit more cautious and dovish, and basically tells the market they’re not going to raise interest rates any time soon,” said Kathy Lien,...

July 29, 2020
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reuters.com

reuters.com

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