The dollar was mostly range bound through the morning session, as traders awaited the FOMC rate decision. Stocks recovered as oil prices rose, though those outcomes were reversed when the Fed left rates unchanged, though did leave the door open for a March rate hike. The dollar moved down a little, then up a little following the FOMC announcement, and then faded modestly. The statement said the committee did not rule out a March rate hike, though said it expects only "gradual" increases in the Fed Funds rate, which will be determined by the economic outlook.
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