After climbing higher in the European session and holding firm till well past noon on Wednesday, the U.S. dollar pared gains after the Federal Reserve left interest rates unchanged and signaled a few rate cuts this year.
The Fed left the target range for the federal funds rate at 5.25 to 5.5% as widely expected. While the accompanying statement said Fed officials still need "greater confidence" inflation is moving sustainably toward 2% before cutting rates, the projections still point to three rate cuts this year.
For comments and feedback contact: editorial@rttnews.com
Forex News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.