U.S. Dollar Rebounds after Fed Statement

The dollar pared gains against major currencies on Wednesday after the Federal Open Market Committee released a statement saying there remains “considerable time” before an interest rate hike.

The U.S. dollar rebounded against major currencies on Wednesday on expectations that the Federal Reserve would signal rate hikes were on track, while the rouble recovered as buyers stepped in to pick up the Russian currency at cheaper levels.

The dollar fell against the rouble, however, on the view that the Russian currency’s collapse this year may have gone too far. While Brent crude still traded near 5-1/2-year lows below $60 a barrel, analysts said its free fall may be stabilizing.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.