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Overnight the dollar touched its highest point against the pound since 1985.
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Protesters shout slogans during a protest outside of the parliament in Nicosia, Cyprus, Monday, March 18, 2013. A vote on a bailout package for Cyprus that includes an immediate tax on all savings accounts has been postponed until Tuesday evening. Yiannakis Omirou, the speaker of Parliament, said the delay was needed to give the government time to amend the deal reached over the weekend that prompted an outcry from those who thought their money was safe. In order to get euro 10 billion ($13 billion) in bailout loans from international creditors, Cyprus agreed to take a percentage of all deposits — including ordinary citizens' savings — an unprecedented step in Europe's 3 ½-year debt crisis. (AP Photo/Petros Karadjias)
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Cyprus' Finance Minister Michalis Sarris, center, leaves after his meeting with Russian Finance Minister Anton Siluanov at the building of Russian Finance Ministry in Moscow, Russia, Wednesday, March 20, 2013. Cyprus' finance minister is in Russia for talks with the Kremlin over financial aid for the troubled island nation. (AP Photo/Misha Japaridze)
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Cyprus' Finance Minister Michalis Sarris, center back to camera, speaks to the media after his meeting with Russian Finance Minister Anton Siluanov at the building of Russian Finance Ministry in Moscow, Russia, Wednesday, March 20, 2013. Cyprus' finance minister is in Russia for talks with the Kremlin over financial aid for the troubled island nation. (AP Photo/Misha Japaridze)
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Germany's Chancellor Angela Merkel, left, and France’s President Francois Hollande brief the media prior to a meeting at the chancellery in Berlin, Thursday, Aug. 23, 2012 .The leaders of Germany and France are stressing that it's up to Greece to keep pursuing painful reforms as it strives to keep its place in the euro. Chancellor Angela Merkel and President Francois Hollande were meeting Thursday before both hold talks over the next two days with Greece's new prime minister, Antonis Samaras. (AP Photo/Markus Schreiber)
Dollar falls after Federal Reserve statement
NEW YORK (
AP) — The dollar fell against most major currencies after the Federal Reserve kept its bond-buying policy unchanged.
Traders also bought the euro and other higher-risk currencies after Fed Chairman Ben Bernanke said that the U.S. economy has been improving in recent months.
The euro rose to $1.2943 in late trading Wednesday from $1.2875 late Tuesday. The British pound rose to $1.5118 from $1.5105.
Traders are still waiting to see how Cyprus will stave off bankruptcy after the country's government rejected a plan to contribute to a bailout package by seizing money from people's bank accounts.
The dollar fell to 0.9436 Swiss franc from 0.9478 Swiss franc and to 1.0251 Canadian dollar from 1.0275 Canadian dollar.
The dollar rose to 95.89 Japanese yen from 95.09 Japanese yen.
Tags:
federal reserve, chairman ben bernanke, recreation, wednesday afternoon, united states dollar, press conference, afternoon trading, federal reserve system, currency, central bank, pound sterling, dollar, british pound, swiss franc, japanese yen, iso 4217, euro, new york, u.s. economy, late tuesday, major currencies, bank accounts, bailout package, policy change, chairman of the federal reserve
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