U.S. Dollar Subdued Before Fed Guidance

The U.S. dollar was subdued early on Wednesday as investors waited for the latest guidance from the Federal Reserve, while a surprisingly dovish message from Sweden’s central bank saw the crown slump to four-year lows.

The Riksbank cut interest rates more than expected to zero and said it would delay tightening policy until the middle of 2016 as it moved decisively to tackle the risk of deflation.

Both the euro and dollar jumped to four-year highs of 9.3912 crowns and 7.3824 crowns as a result. They have since steadied at 9.3403 and 7.3340 respectively.

CNBC

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