NEW YORK (Reuters) – The dollar fell on Wednesday after the U.S. Federal Reserve signaled it is still leaning towards eventual reductions in borrowing costs, but noted recent disappointing inflation readings and suggested a possible stall in the movement towards more balance in the economy.
“In recent months, there has been a lack of further progress towards the Committee’s 2% inflation objective,” the Fed said in the statement.
The dollar index was last down 0.23% at 106.08, while the euro gained 0.24% to $1.0691. Against the Japanese yen, the dollar weakened 0.22% to 157.44.
(Reporting By Karen Brettell; Editing by Chris Reese)
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