{
  "id": 16986477,
  "title": "Dollar falls after Fed holds rates steady",
  "url": "https://urgent.news/2026/10/29/dollar-falls-after-fed-holds-rates-steady",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-29T00:16:14.000Z",
  "source": {
    "name": "New Straits Times",
    "slug": "new-straits-times",
    "url": "https://www.nst.com.my/business/economy/2026/10/1565889/dollar-falls-after-fed-holds-rates-steady"
  },
  "original_language": "en",
  "account": "The US dollar faced a decline against major currencies on Wednesday after the Federal Reserve announced a rate decision that aligned with market expectations. Meanwhile, the New Zealand dollar experienced a sharp drop following the country's central bank, the Reserve Bank of New Zealand, surprising markets by keeping interest rates unchanged. The Federal Reserve maintained interest rates as expected, deferring any alterations to borrowing costs until after the upcoming US midterm elections and holding off on further data on inflation trends. The dollar's response to the Fed's decision was initially restrained but intensified later when Chair Kevin Warsh addressed the press. The euro gained 0.32% against the dollar at US$1.1160, while the US dollar weakened by 0.04% to 157.87 yen. Marc Chandler, chief market strategist at Bannockburn Global Forex, noted that the US dollar appeared weaker than anticipated due to the steepening of the yield curve. This steepening was attributed to Warsh's remarks during his press conference, where the two-year note yield dropped by 1.46 basis points to 4.72%. Currently, market projections indicate an 85% probability of a Fed rate increase in December, as per the CME's FedWatch tool. The dollar index, which gauges the greenback's strength against a basket of six other currencies, fell by 0.2% to 102.15. The Federal Reserve's decision to maintain rates on schedule did not raise significant expectations for an immediate hike. British Finance Minister John Healey indicated plans to increase taxes on banks, gambling, and income for savers and landlords, alongside tightening value-added tax rules for online marketplaces like Amazon, to finance the country's budget. The pound sterling rose 0.12% against the dollar at US$1.3323 and declined approximately 0.08% compared to the euro. The New Zealand dollar plummeted as much as 1.74% to US$0.5583 after the Reserve Bank of New Zealand held rates steady at 2.75%, defying the majority of economists who anticipated a rate hike. The Bank of Canada made its first rate increase in over three years, signaling potential further hikes to curb escalating energy costs from driving broader inflation. The Canadian dollar strengthened by 0.37% against the US dollar to C$1.40 per dollar.",
  "summary": "NEW YORK: The US dollar fell against major currencies on Wednesday after the Fed delivered a rate decision in line with expectations, while the New Zealand dollar fell sharply after that country's central bank surprised markets by leaving interest rates unchanged.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 6,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Euro holds gains against Canadian Dollar ahead of BoC rate decision",
        "url": "https://urgent.news/2026/10/28/euro-holds-gains-against-canadian-dollar-ahead-of-boc-rate-decision",
        "published": "2026-10-28T08:34:56.000Z"
      },
      {
        "outlet": "PBS NewsHour",
        "title": "News Wrap: Fed holds interest rates unchanged as inflation remains elevated",
        "url": "https://urgent.news/2026/10/28/news-wrap-fed-holds-interest-rates-unchanged-as-inflation-remains",
        "published": "2026-10-28T22:40:26.000Z"
      },
      {
        "outlet": "The Economic Times - Top News",
        "title": "Fed holds rates, says data will guide next move",
        "url": "https://urgent.news/2026/10/29/fed-holds-rates-says-data-will-guide-next-move",
        "published": "2026-10-29T00:18:16.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Dollar steady after Fed hold leaves rate path murky",
        "url": "https://urgent.news/2026/10/29/dollar-steady-after-fed-hold-leaves-rate-path-murky-17001056",
        "published": "2026-10-29T02:05:49.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "Dollar steady after Fed hold leaves rate path murky",
        "url": "https://urgent.news/2026/10/29/dollar-steady-after-fed-hold-leaves-rate-path-murky",
        "published": "2026-10-29T02:44:30.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}