Dollar pressured by Fed's pledge on low rates

Dollar pressured by Fed's pledge on low rates

SYDNEY (Reuters) - The U.S. dollar was under pressure on Thursday, moving toward recent multi-month lows on a basket of currencies, after the U.S. Federal Reserve's reiterated its committment to keep rates low for months to come.

U.S. fed funds futures trimmed chances of a rate hike after Fed's pledge to near zero for an 'extended period', a decision traders say is likely to fuel leveraged carry trades and boost demand for high-yielding currencies like the Australian and New Zealand dolalrs.

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