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Summary Federal Reserve said it will not make any changes to its low-interest rate policy.
The dollar trimmed its losses against other currencies Wednesday after the Federal Reserve said it wouldnt make any changes to its low-interest rate policy.The Fed said the strengthening economy will give it more time to see if additional steps will need to be taken in the future.Traders will be closely watching a press conference by Federal Reserve Chairman Ben Bernanke later in the afternoon for clues on how the US economy is faring and when any policy changes could come.The euro rose to $1.3727 in afternoon trading Wednesday from $1.3715 late Tuesday, narrowing gains it made earlier in the day. The British pound fell to $1.5938 from $1.5962.The US currency fell to 78.04 Japanese yen from 78.33 yen, to 0.8850 Swiss franc from 0.8863 Swiss franc and to 1.0153 Canadian dollar from 1.0168 Canadian dollar.The dollar was also lower against currencies in New Zealand, Hong Kong, Singapore and Latin America.
