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17 Mar - Fundamental
The dollar climbed versus the yen but slipped against the euro and the pound Wednesday after the Bank of Japan and the Federal Reserve each left interest rates unchanged near zero.
What prices are doing: The dollar fell 0.1% versus the euro to $1.3783 and dipped 0.7% against the British pound to $1.5349. Against the Japanese yen, the dollar rose 0.2% to ¥90.51.
On Tuesday, the dollar declined against major currencies after the Federal Reserve said it will hold interest rates steady.
What's moving the market: In its policy statement Tuesday, the central bank announced that key interest rates will remain unchanged near zero for an extended period, which is what investors were widely expecting.
The Fed's decision boosted stocks, which rose Tuesday and were poised to extend gains on Wednesday. The move to riskier assets pressured the dollar, which is viewed as a safe haven for investors.
The Bank of Japan said Wednesday that it also plans to keep interest rates nears zero, pressuring the yen and lifting the dollar.
The Department of Labor's Producer Price Index (PPI) was due early Wednesday. The index, a measure of wholesale inflation, is expected to have fallen 0.2% in February after rising 1.4% in January.
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