With the European Central Bank set to announce policy Thursday, the euro was quoted at $1.1160 late Wednesday after the Federal Reserve left U.S. interest rates unchanged, Reuters reported.
The Federal Open Market Committee voted 10-2 to keep its target range at 3.75%-4.00%. Lisa D. Cook and Beth M. Hammack dissented, favoring a quarter-point increase. In its statement, the Fed cited ongoing price pressures alongside strong economic activity, saying incoming information would inform its policy stance.
Reuters said the dollar's immediate response was limited, then weakened while Federal Reserve Chair Kevin Warsh spoke. Reuters also reported that the two-year Treasury note yield fell 1.46 basis points to 4.722% after the press conference began.
At its Sept. 10 decision, the ECB raised its deposit facility rate to 2.50%, its main refinancing operations rate to 2.65% and its marginal lending facility rate to 2.90%, effective Sept. 16. EconoTimes previously covered the euro near $1.1170 ahead of the Fed and ECB decisions.
Reuters and FXStreet reported that markets expected the ECB to leave rates unchanged. The ECB's schedule lists the decision for 9:15 a.m. ET (13:15 UTC) Oct. 29, followed by a news conference at 9:45 a.m. ET (13:45 UTC).