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Dollar falls after Fed rate pause
The dollar declined against the euro following the Federal Reserve's decision to keep interest rates steady at 3.50-3.75%. The euro rose by 0.3% to reach 1.1419 USD. The decision was made amid differing views within the Federal Open Market Committee, with three members favoring a quarter-point rate hike, despite opposition from some members and the Fed chair's insistence on not tolerating ongoing inflation that has persisted for more than five years. The inflation increase has been driven by rising global fuel and food prices, as well as growing demand for investments in data centers and artificial intelligence.
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