The dollar’s slipping as markets get ready for the Fed meeting

Investing.com

Good afternoon!

The US dollar is weaker by 0.2% at 94.75 after the Fed held rates – as was expected.

The economic-data-dependent Fed held off on raising rates just to make sure that the sharp slowdown in hiringlast month was temporary.

As for price stability, the Fed said it anticipates low energy prices will likely continue suppressing inflation in the near term.

As for the rest of the world, here’s the scoreboard as of 2:12 p.m. ET:

• The British pound is stronger by 0.3% at 1.4158 against the dollar after UK unemployment dropped to a nearly 11-year low of 5% in April. Plus, the percentage of employed people climbed to 74.2% – matching the highest reading since record keeping began in 1971.
• The Chinese yuan closed down by 0.2% at 6.5813 per dollar after MSCI decided not to include China’s A shares in its Emerging Markets Index. Separately, new loans in the country surged as Chinese banks lent out 985.5 billion yuan ($149.56 billion) worth of new loans in May, outpacing the 750 billion yuan that was expected.
• The Japanese yen is stronger by 0.2% at 105.94 per dollar ahead of Thursday’s Bank of Japan meeting.
• The Australian dollar is up 1.0% at .7431 per dollar.
• The euro is up by 0.5% against the dollar at 1.1264.