Commodity News
HeadLine : Dollar on track for weekly losses in wake of Fed, Bank of Japan
Date : Sep 23 2016

The dollar gained in Asian trading on Friday but was on track to end a tumultuous week with losses after the Federal Reserve trimmed its long-term interest rate expectations and the Bank of Japan rebooted its monetary policy framework.

The U.S. Federal Reserve left interest rates unchanged on Wednesday but signaled it could still tighten monetary policy by the end of this year. The central bank projected a less aggressive rise in interest rates next year and in 2018, and it cut its longer-run interest rate forecast to 2.9 percent from 3.0 percent.

The dollar was up 0.3 percent at 101.04 yen , pulling away from a nearly four-week low of 100.10 touched overnight though still poised to shed 1.1 percent for the week.

 

Source: Investing.com

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