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Dollar Paring Gains After Yesterday's Surge
The dollar is down against all of its major rivals Thursday afternoon, easing back from the sharp gains of the previous session. The buck surged yesterday afternoon following the release of the Federal Reserve's policy statement. The Fed left interest rates unchanged yesterday, but signaled that another rate hike is likely this year. The Fed's projections pointed to a quarter basis point rate increase later this year, with the rate hike widely expected to come at the December meeting. The central bank also revealed that it will begin shrinking its $4.5 trillion balance sheet in October, initially allowing $10 billion ... (full story)
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