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Dollar higher as Fed holds on rates

Published 2017-05-04, 03:12 a/m
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Investing.com - The dollar mostly held onto gains Thursday as the FOMC as expected left policy on hold.
The dollar index was up 0.05% at 99.31 after a high of 99.33.
The FOMC statement after the May meeting was deemed to be upbeat leaving the perception that the Fed remains on track for two further hikes this year.
The Fed said it viewed sluggish U.S. growth in the first quarter as "transitory," as the labor market and business sentiment remained buoyant.
Inflation also continues toward the Fed's target of 2%, the statement noted.
Investing.com's Fed Rate Monitor Tool showed the odds of a June hike rising to 70% from 65%.
The dollar remained above 112 yen as Japan remained closed for an extended holiday.
The euro edged higher below $1.09 after the debate between presidential candidates Emmanuel Macron and Marine Le Pen.
Polls indicated that Macron, considered to be market-friendly, was more convincing in the debate and remains on track to win Sunday's run-off.
The pound edged lower below the $1.29 mark as voters headed to the polls for local elections ahead of the general election next month.

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