Dollar Stays Weak After Fed Cuts Rates

The dollar remained under pressure after hitting a seven-week low overnight following the Federal Reserve's decision to cut interest rates and signal further cuts.The Fed delivered a 25 basis-points rate reduction, as expected, but sounded less cautious about further policy easing than anticipated.Fed Chair Jerome Powell's statement seemed to suggest the risks of higher inflation are less dramatic than the risks of a weaker labor market, Commerzbank's Michael Pfister said in a note. ...