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Currencies: Dollar slips to 1 ½-week low after Fed leaves interest rates unchanged

The greenback lost ground on Wednesday, extending its recent slide after the Federal Reserve kept interest rates unchanged as expected.

The ICE U.S. Dollar Index, DXY, +0.13% a measure of the buck’s strength against six of its closest rivals, fell 0.3% to 97.281, on track for a fourth consecutive losing session.

Read:Fed sticks with ‘patient’ policy, notes weaker core inflation

What’s moving markets

The dollar drifted lower after Federal Open Market Committee acknowledged inflation was running below expectations.

“On a 12-month basis, overall inflation and inflation for items other than food and energy have declined and are running below 2 percent.

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