Dollar Declines as Fed Lowers Projections for Benchmark Rate

The dollar declined to a one-week low after the Federal Reserve lowered its 2016 and 2017 projections for U.S. interest rates. The U.S. currency slid even as the central bank policy makers raised their assessment of the economy and stayed on track to raise interest rates this year for the first time in almost a decade. The Fed’s median estimate for the end of 2016 fell to 1.625 percent, compared with 1.875 percent forecast in March for...

Gold Trades Steady as Fed Raises Assessment of U.S. Economy

Gold traded little changed after the Federal Reserve officials raised their assessment of the labor market and the economy. The metal swung between year-to-date gains and losses more than 10 times in 2015, gyrating as traders tried to gauge the timing of U.S. interest-rate increases. Higher rates drive investors to favor assets that pay interest, including new bonds, curbing the appeal of gold, which generally offers returns only through...

Japan Stocks Fall as BOJ Meets After Fed Signals Gradual Hikes

Japanese stocks fell as investors await a Bank of Japan policy decision after the Federal Reserve signaled the pace of U.S. interest-rate increases will be slow even as it prepares to raise borrowing costs this year.The Topix slipped 0.2 percent to 1,631.01 as of 9:01 a.m. in Tokyo. The Nikkei 225 Stock Average lost 0.2 percent to 20,180.46. The BOJ begins a two-day meeting Thursday in Tokyo, with all 35 economists surveyed by Bloomberg...

U.S. Stocks Gain, Dollar Drops as Yellen Sees Gradual Rate Rise

U.S. stocks rose, the dollar fell and Treasuries erased losses as the Federal Reserve signaled the pace of tighter monetary policy will be gradual even as the central bank prepares to lift interest rates this year. The Standard & Poor’s 500 Index rose 0.2 percent at 4 p.m. in New York, erasing declines on the Fed’s statement. The Bloomberg Dollar Spot Index dropped 0.7 percent, reversing gains. The yield on 10-year Treasury notes...

U.S. Stocks Fluctuate Before Fed While Treasuries Drop With Gold

U.S. stocks fluctuated after erasing earlier gains, while Treasures slid with gold before the Federal Reserve’s decision on interest rates. European stocks fell amid signs the impasse in Greek aid talks was deepening. The Standard & Poor’s 500 Index dropped 0.1 percent at 12:37 p.m. in New York, wiping out an earlier 0.4 percent advance. Treasuries fell, sending 10-year yields 6 basis points higher to 2.37 percent. The Stoxx Europe...