The dollar is falling and the euro is rising as the US central bank turns to caution
The dollar fell on Thursday after the Federal Reserve pledged to be patient in raising interest rates again as the euro and the Australian dollar moved higher.
The Federal Reserve kept interest rates unchanged on Wednesday as expected, but gave up its pledge to "gradual increases" in interest rates.
The dollar fell to a three-week low against other major currencies and US Treasury yields fell after the US central bank cut its tone.
The euro benefited from the decline of the dollar, which overshadowed fears of weak growth in the euro area. The euro rose 0.2 percent to a three-week high of $ 1.1504.
The dollar index, which tracks the performance of the greenback against a basket of six other major currencies, fell about 0.2 percent to a three-week low of 95.16. The index was already down 0.43 percent on Wednesday night.
The Australian dollar was up 0.3 percent at $ 0.7277 after rising 1.3 percent on Wednesday, its biggest percentage gain since January 4.
The Swiss Franc and the Japanese Yen advanced around 0.15 percent against the US Dollar, reaching 108.87 and 0.9923 respectively.
Sterling was up 0.2 percent at $ 1.3157. The British currency faces difficulties due to the uncertainty surrounding Britain's exit from the European Union.