The U.S. dollar drifted lower on Wednesday as the Federal Reserve raised interest rate by 25 basis points and projected just one more rate hike this year.
The Fed also said additional policy firming may be appropriate, although that marks a shift from saying ongoing increases in rates will be appropriate.
The central bank's latest projections suggest the Fed plans to raise rates just one more time this year to a range of 5.0 to 5.25%.
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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.