Dollar falls against euro, yen after US Fed’s meeting

The value of the US dollar against the euro and the yen fell on November 3 morning, as investors assess the results of the meeting of the US Federal Reserve System (FRS), Report informs referring to the auction data.

The euro against the dollar rose to $0.9832 from the previous close of $0.9817, the dollar against the yen fell to 147.31 yen from 147.9 yen. The dollar index (the exchange rate against a basket of currencies of six US trading partners) rose by 0.49% to 111.89 points.

On November 2, the Fed raised the base interest rate by 75 basis points, as expected, to the level of 3.75-4% per annum. The Fed said a further rate hike would be appropriate. Central Bank Chairman Jerome Powell said at a press conference that the Fed is ready to slow down the pace of raising the discount rate.