The dollar is tumbling


The dollar ticked down after the Federal Reserve did not raise its benchmark interest rate at its September meeting, as was expected.

The US dollar index is down by 0.5% at 95.86 as of 2:21 p.m. ET.

In a policy statement released on Wednesday, the Fed noted that the case for a rate hike this year has strengthened.

But, notably, three members thought the Fed should’ve gone ahead at its just-finished meeting.

Head over to Akin Oyedele’s write-up of the latest Fed decision for all the details here.

Meanwhile, gold is up by 1.2% at $1.334.45 an ounce, and WTI crude oil is up by 3.3% at $45.42 per barrel.

As for the rest of the world, here’s the scoreboard as 7:43 a.m. ET:

    The Japanese yen is stronger by 1.1% at 100.59 per dollar. Earlier in the day, the Bank of Japan said it will now target the shape of the yield curve, and will purchase Japanese government bonds, or JGBs, with the aim of keeping the 10-year JGB rate “more or less at the current level” of about 0%.The British pound is up by 0.3% at 1.3030 against the dollar. Earlier, the Office for National Statistics released its first report of a special series titled “Assessment of the UK Post-Referendum Economy,” arguing that the British economy has shown no major impact from the UK’s vote to leave the European Union.The South African rand is up by 2.1% at 13.6159 per dollar after CPI rose 5.9% year-over-year in August, in line with expectations. Notably, this was the first month in 2016 that the country’s inflation was within the South African Reserve Bank’s 3%-6% target range. “Today’s data provides some good news for South African consumers, and will allow the Reserve Bank to keep policy more accommodative for a few months longer,” argued Capital Economics’ Africa Economist John Ashbourne. The euro is up by 0.3% at 1.1189 against the dollar.