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.

Oil prices rose during the day amid fears of a supply disruption in the Middle East amid the escalating tensions between the United States and Iran.

Iran dropped a US drone that was flying over the Strait of Hormuz for surveillance purposes.

The United States Central Command confirmed that the drone was flying in the international airspace above the Strait of Hormuz and that Washington will inevitably respond to this act.

For his part, US President Donald Trump said that Iran made a mistake and the world will know the response of the United States soon.

On the other hand, by 14:50 GMT, the dollar index (against a number of major currencies) fell by 0.4% to 96.7 points, reaching a high of 97.2 points and a low of 96.5 points.

In terms of trade, by 14:44 GMT, West Texas rose by 5.2% to $56.7 per barrel, hitting a high of $57.02 and a low of $54.11.

Brent futures (for August delivery) rose 3.7% to $64.1 per barrel, the highest at $64.8 and the lowest at $62.4.

Australian dollar rose against greenback today despite the Central Bank President Philip Lowe remarks that the decision to cut interest rates is on the table.

Lowe highly praised the labor market and the large number of jobs added by the Australian economy in recent years, but warned of the impacts from the US-China trade war.

He added that recent economic data - including GDP and labor market data - did not indicate that the Australian economy may need to be stimulated, and therefore, the decision to cut interest rates is still on the table.

Lowe's comments come after the Federal Reserve's decision to keep the interest rate unchanged and hint at the possibility of cutting it this year.

These hints suggest that the central bank may have seen some signs of a slowing US economy while assuring on monitoring the released data.

In terms of trade, at 15:59 GMT, AUD/USD rose by 0.5% to 0.6915, with a high of 0.6936 and a low of 0.6879.

US dollar fell on Thursday to its lowest level in two weeks against a basket of global currencies, continuing its sharp losses for the second day in a row as dollar's sell-off activity rallied after the Federal Reserve meeting, which increased the likelihood of a future US interest rates cut this year to meet global and local risks.

The dollar index fell more than 0.6% to 96.58 points, the lowest since June 7, from the opening level of 97.18 points, with the highest level at 97.20 points.

The index yesterday lost 0.4%, the second loss in the last three days, to drop from a two-week high of 97.77 points, reflecting the decline of the US currency against most major and minor currencies.

US Dollar's sell-off activity are currently accelerating after the Federal Reserve meeting, which has increased the likelihood of a one or two US interest rate cuts this year.

The US central bank kept interest rates unchanged on Wednesday, at 2.50% for the fourth straight meeting, in line with most of the financial market expectations.

The Fed said interest rate cuts were on the rise, boosting the possibility of monetary policy easing at the next month's meeting, to help the bank combat growing global and domestic risks.

The global threat is the US trade wars with several countries, especially China, and domestic risks which are based on the rising fears about weak inflation levels in the country.

The Federal Reserve dropped the word "patient" when changing interest rates from the monetary policy statement, and stressed that it will take what is necessary to maintain economic growth in the country, and showed that about a half of its members are ready to reduce borrowing costs in the next few months.

Federal Reserve Chairman Jerome Powell said some of central bank's officials believe the issue of easing monetary policy has been more appropriate in recent times.

Powell confirmed his intention to spend his full four-year term in response to reports that US President Donald Trump was trying to oust him from the presidency of the Federal Reserve.

The Federal Reserve has lowered its forecast for the pace of inflation in the United States to 1.5% this year from 1.8% on average in March, and also forecasted that inflation would not reach the target of 2% next year.

After the end of this important meeting, the main question in the financial markets is no longer whether the Fed will cut interest rates next July or not, but whether the cut will be 25 or 50 basis points?