Dollar gains vs euro, yen after US FOMC statement

New York: The dollar gained against the euro and yen on Wednesday after the US Federal Reserve said the US economic recovery had lost momentum so far this year.

The Fed, however, stopped short of offering new monetary stimulus even as it signaled further bond buys could be in store.

The euro fell as low as $1.2241 in the minutes following the Fed's statement after trading at $1.2299. It last traded at $1.2252, down 0.4 percent on the day.

Against the yen, the dollar rose as high as 78.29 versus 78.10 before the Fed statement. It last traded at 78.26,

up 0.2 percent on the day, according to Reuters data.