Dollar trims losses after absorbing Fed's statement

The US dollar fell against most of major currencies on Friday, after the Federal Reserve's statement.

The US Federal Reserve has kept the interest rate between zero and 0.25% unchanged, but projected to raise it 3 times in 2023 and 3 more times in 2024, to reach 1.8% by the end of 2024.

The Fed Chairman stated that he expected the Fed to start reducing the bond-buying program in November.

The US is increasing efforts to vaccinate all of its citizens to finally put an end on the Covid-19 pandemic and boost economic recovery.

The dollar index fell against a basket of currencies by 0.2% to 93.2 points as of 17:17 GMT, after it hit a high of 93.4 points and a low of 93.05 points.