Dollar continues slide losses after Federal Reserve decision

The US dollar fell against most currencies on Wednesday, to deepen its losses following the Federal Reserve's interest rate decision.

The US Federal Reserve kept the interest rate unchanged between zero and 0.25% in a widely expected move.

The Fed ruled out any rate hike before the full recovery of the economy from the coronavirus impact through inflation rising near the Fed's target and the US employment recovering.

However, the Fed sees improvement in the US economy and the labor market, as some economic activity recovered to their pre-pandemic levels. 

The central bank also stressed again on taking all the necessary tools and measures until the economy recovers and returns to its growth path.

The dollar index fell against a basket of currencies by 0.3% to 93.4 points as of 19:16 GMT, after it hit a high of 93.8 and a low of 93.1.