Dollar Drops as Divided Fed Holds Rates Steady
The US Dollar weakened sharply after the Federal Reserve kept interest rates unchanged in a split 9-3 decision, while oil prices jumped on rising Middle East tensions.
The Federal Reserve left its federal funds target range at 3.50% to 3.75% on Wednesday, but the decision exposed a deep split among policymakers. The FOMC vote was 9-3, signaling internal disagreement over the future path of monetary policy.
The US Dollar fell sharply in the American session, reflecting market disappointment or a dovish interpretation. Meanwhile, crude oil prices surged as escalating tensions in the Middle East fueled supply concerns.
Source: FXStreet Forex News