Fed Hault Causes Dollar To Dip – 20 March, 2019

The Federal Reserves plans to halt rate hikes this year caused the dollar to drop in a move that signals an end to a three year effort to normalise   policy. In the biggest loss since January, the dollar fell 0.6 percent against the Japanese currency to 110.67 yen. Against a basket of currencies, the dollar fell 0.5 percent to 95.929, with the euro gaining majorly to $1.1424 up from $1.1177. Resistance from the European Union over Prime Minister Theresa May’s proposal to push Brexit to June 30 caused sterling to drop to $1.3192.