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.
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Forex News
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.