U.S dollar drops, low U.S interest rates expected to persist for long
The Fed's message is that policy will remain accommodative, but there is no real appetite for adding to the easing.
The Fed's message is that policy will remain accommodative, but there is no real appetite for adding to the easing.
Many currency traders believe that the U.S dollar index is showing an oversold signal.
The US dollar is weaker as traders placed a very dovish spin of the Fed shift to inflation targeting.
The U.S. Dollar Index tracks the American dollar against other major currencies.
The drop is speculated to have been caused by the high number of Americans who claimed unemployment benefits.
This is the longest losing streak recorded by the safe-haven currency in ten years.
American Dollar Index gained 0.27% to trade at 93.025.