Investing.com – The U.S. dollar was down against all of the other major currencies on Wednesday, after Federal Reserve officials indicated concern over sluggish U.S. growth and continuing low levels of inflation.
During European afternoon trade, the greenback was down against the euro, with EUR/USD soaring 0.81% to hit 1.3371.
In their monetary policy statement for October, Fed officials said the U.S. economic recovery would remain modest in the near term and indicated they were ready to implement quantitative easing measures if necessary.
The greenback was also down against the pound, with GBP/USD gaining 0.20% to hit 1.5654.
Earlier in the day, the minutes of the Bank of England's September meeting said that policy makers saw a “reduction in growth prospects” for the second half of the year.
Meanwhile, the greenback was down against the yen and the Swiss franc, with USD/JPY shedding 0.56% to hit 84.63 and USD/CHF falling 0.63% to hit 0.9898.
Speaking on Tuesday, Japanese Prime Minister Naoto Kan said that his government was prepared to intervene in currency markets again, saying, "If there is a drastic change (in the currency), such intervention is unavoidable."
Elsewhere, the greenback was also down against its Canadian, Australian and New Zealand counterparts, with USD/CAD shedding 0.54% to hit 1.0215, AUD/USD gaining 0.10% to hit 0.9562 and NZD/USD gaining 0.29% to hit 0.7373.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.69%.
Later in the day, US Treasury Secretary Timothy Geithner was due to speak.
During European afternoon trade, the greenback was down against the euro, with EUR/USD soaring 0.81% to hit 1.3371.
In their monetary policy statement for October, Fed officials said the U.S. economic recovery would remain modest in the near term and indicated they were ready to implement quantitative easing measures if necessary.
The greenback was also down against the pound, with GBP/USD gaining 0.20% to hit 1.5654.
Earlier in the day, the minutes of the Bank of England's September meeting said that policy makers saw a “reduction in growth prospects” for the second half of the year.
Meanwhile, the greenback was down against the yen and the Swiss franc, with USD/JPY shedding 0.56% to hit 84.63 and USD/CHF falling 0.63% to hit 0.9898.
Speaking on Tuesday, Japanese Prime Minister Naoto Kan said that his government was prepared to intervene in currency markets again, saying, "If there is a drastic change (in the currency), such intervention is unavoidable."
Elsewhere, the greenback was also down against its Canadian, Australian and New Zealand counterparts, with USD/CAD shedding 0.54% to hit 1.0215, AUD/USD gaining 0.10% to hit 0.9562 and NZD/USD gaining 0.29% to hit 0.7373.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.69%.
Later in the day, US Treasury Secretary Timothy Geithner was due to speak.