The dollar got a little bump higher in early N.Y. trade on Wednesday, as core U.S. CPI came in hotter than expected. Trade slowed markedly by mid-morning however, as markets poised for the FOMC news, and Yellen press conference. The dollar fell sharply on the FOMC announcement, where rates were left unchanged, as expected. The Fed did however, cut back its outlook for further rate hikes, to likely 2 more hikes this year, from the 4 hikes it expected in December, and a 50 basis point lower trajectory through 2017.
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