U.s. Holds Rates Steady, Dollar Drops To 3 Lira Level

– U.S. Federal Reserve (Fed) kept interest rates steady despite expectations and dollar declined to the level of 3 liras.

Fed has announced to keep interest rates unchanged, in a nod to concerns about a weak world economy, but to leave open the possibility of a modest policy tightening later this year.

Following the two-day-long intense meetings, Fed President Janet Yellen said, “The outlook abroad appears to have become less certain. In light of the heightened uncertainty abroad ... the committee judged it appropriate to wait".

Over the decision of Fed, euro rose from 1.13 dollar level to 1.1438, while dollar having seen 3.01 liras before the decision slightly fell under 3.0 liras, then began to range between 2.9 – 3.0 liras.

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