Dollar the Loser as Yellen’s Inaction Boosts Yen, Aussie: Chart

Janet Yellen, chair of the U.S. Federal Reserve, speaks during a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, June 22, 2016. By offering a subtle change to her outlook from less than a week ago, Yellen on Tuesday before the Senate Banking Committee pushed the prospect of additional interest rate increases further into the future.

Photographer: Andrew Harrer/Bloomberg

The sixth straight Federal Reserve decision to hold interest rates lifted most currencies worldwide, with a gauge of the dollar against 10 major peers extending declines as it heads for its first annual drop in four years. About 80 of the nearly 150 currencies Bloomberg tracks worldwide gained versus the dollar Wednesday, with only 15 recording a loss of 0.1 percent or more. The yen was the best performer among major developed peers, shrugging off moves by the Bank of Japan to tweak monetary stimulus in an attempt to stoke inflation.

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