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After 25 bps rate hike by Fed Reserve, US dollar slides, stocks end lower

The US dollar saw its largest one-day loss in two months against major currencies

Reuters  |  New York 

The US dollar slid against major currencies, bond yields slipped, and stocks were mostly steady on Wednesday after the Federal Reserve raised its policy interest rate, and noted economic growth was strengthening, but left markets expecting only three rate rises this year. The U.S. central bank as expected raised its policy rate to 1.50-1.75 percent, but disappointed currency traders who had bet it was prepared to raise rates four times this year as the jobs market approaches full employment. The U.S. dollar saw its largest one-day loss in two months against major currencies. The ...

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First Published: Thu, March 22 2018. 08:17 IST
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