The U.S. dollar fell against major peers including the euro, Swiss franc, and Japanese yen on Wednesday after the Federal Reserve lowered interest rates in a widely-expected move, but indicated it will likely pause its easing cycle at the next policy meeting in January.

The greenback was further weighed down by comments Fed Chair Jerome Powell in a press briefing after the rate decision, saying that the U.S. central bank’s next move is unlikely to be a rate hike. He added that a rate increase is not the base case reflected in new projections from policymakers.

The Fed’s decision to lower the benchmark policy rate by a quarter of a percentage point to the 3.50%-3.75% range drew three dissents. Chicago Fed President Austan Goolsbee and Kansas City Fed President Jeffrey Schmid argued that t

See Full Page