NEW YORK, Dec 13 (Reuters) - The dollar dropped against
the euro and yen on Wednesday after the Federal Reserve signaled
in new economic projections that the historic tightening of U.S.
monetary policy engineered over the last two years is at an end
and lower borrowing costs are coming in 2024.
A near unanimous 17 of 19 Fed officials project that the
policy rate will be lower by the end of 2024 than it is now -
with the median projection showing the rate falling
three-quarters of a percentage point from the current
5.25%-5.50% range. No officials see rates higher by the end of
next year.
The U.S. dollar index dropped to 103.31, the lowest
since Dec. 7. The euro rose to $1.8475, the highest
since Dec. 5, and the greenback fell to 144.19 Japanese yen, the
lowest since Dec. 8..
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Currency bid prices at 2:08PM (1908 GMT)
Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid
Previous Change
Session
Dollar index 103.4400 103.7600 -0.30% -0.048% +104.0300 +103.3100
Euro/Dollar $1.0829 $1.0795 +0.31% +1.05% +$1.0848 +$1.0774
Dollar/Yen 144.3500 145.4650 -0.73% +10.14% +145.9900 +144.1900
Euro/Yen 156.34 156.98 -0.41% +11.44% +157.4800 +156.2700
Dollar/Swiss 0.8733 0.8753 -0.21% -5.54% +0.8780 +0.8728
Sterling/Dollar $1.2564 $1.2563 +0.02% +3.90% +$1.2584 +$1.2501
Dollar/Canadian 1.3554 1.3590 -0.26% +0.04% +1.3608 +1.3545
Aussie/Dollar $0.6620 $0.6559 +0.91% -2.90% +$0.6630 +$0.6542
Euro/Swiss 0.9458 0.9448 +0.11% -4.42% +0.9469 +0.9437
Euro/Sterling 0.8616 0.8592 +0.28% -2.58% +0.8626 +0.8586
NZ $0.6161 $0.6135 +0.48% -2.92% +$0.6174 +$0.6085
Dollar/Dollar
Dollar/Norway 10.8370 10.9620 -1.25% +10.30% +11.0080 +10.8200
Euro/Norway 11.7403 11.8297 -0.76% +11.88% +11.8693 +11.7351
Dollar/Sweden 10.3822 10.4305 +0.05% -0.25% +10.4642 +10.3590
Euro/Sweden 11.2684 11.2627 +0.05% +1.07% +11.2862 +11.2440
(Reporting by Karen Brettell; editing by Chizu Nomiyama)