March 20, 2019 / 6:20 PM / 3 months ago

Dollar dives after Fed holds rates, forecasts no rate hikes in 2019

An employee counts U.S dollar bills at a money exchange office in central Cairo, Egypt, March 20, 2019. REUTERS/Mohamed Abd El Ghany

NEW YORK (Reuters) - The dollar fell against a basket of currencies on Wednesday, after the Federal Reserve held U.S. interest rates steady and its policymakers abandoned projections for further rate hikes this year as the U.S. central bank flagged an expected slowdown in the economy.

The index that tracks the greenback versus the euro, yen, sterling and three other currencies was down 0.37 percent at 96.028, its lowest since Feb. 28.

Reporting by Saqib Iqbal Ahmed; Editing by Chizu Nomiyama

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