By Rae Wee

SINGAPORE, Dec 11 (Reuters) – The dollar fell on Thursday after the Federal Reserve delivered an outlook that was not as hawkish as some had anticipated, giving investors confidence to short the currency as they bet ‍on two more rate cuts next year.

The Fed at the conclusion of its two-day policy meeting lowered rates by 25 basis points as expected, but remarks from Chair Jerome Powell at his post-meeting press conference surprised some who had been positioned for a more hawkish tone.

“For us, the big takeaway was a dovish tilt to the accompanying commentary, and at Fed Chair ‌Powell’s press conference,” said Nick Rees, head of macro research ‌at Monex Europe.

As a result, investors sold the dollar, which in turn pushed the euro above the key $1.17 level and close to a two-m

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