Dollar extends losses on Fed rate cut bets

US Dollar fell against most major currencies today following the Federal Reserve's decision while hinting about a future interest rate cut.

The US central bank kept interest rates at 2.50% unchanged, but noted that the impacts from the US-Beijing trade war and the uncertainty in global markets may force officials of the Federal Open Market Committee to cut interest rates.

Federal Reserve Chairman, Jerome Powell, said most members of the Federal Reserve supported the decision to cut interest rates before the end of the year.

Powell confirmed that the Federal Reserve will continue to closely monitor economic data in the coming period to determine the direction of monetary policy.

In terms of trade, by 17:53 GMT, the dollar index (against a number of major currencies) fell by 0.5% to 96.6 points, with a high of 97.2 points and a low of 96.5 points.