The US dollar fell against the euro on Wednesday after the Federal Reserve said it will end its bond-buying program in June as planned and appeared in no rush to tighten monetary policy further. The dollar fell to a three-year low against major currencies on Wednesday ahead of the announcement and remained pressured.
The euro was up 0.4 percent at $1.4695 after reaching $1.4713, its highest since December 2009. The euro was at $1.4665 prior to the Fed announcement. The dollar skidded to a three-year low of 73.493 against a currency basket earlier in the day, down around 10 percent from its peak in January, and many traders expect the index to fall to the all-time low, hit in July 2008, of 70.698. It last traded down 0.2 percent at 73.713.
The euro jumped 1.5 percent to 121.12 yen. The pound last traded at $1.6546, up 0.4 percent. after data showed the UK economy expanded 0.5 percent in January-March from the previous quarter. It touched $1.6600 last week.
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