Dollar posts muted gains vs. euro, yen after Fed rate hike

The dollar weakened against its main rivals Wednesday after the Federal Reserve raised its benchmark interest rate target off the zero-bound and suggested that the pace of future rate hikes would be gradual.

The U.S. currency USDJPY, +0.18%  traded at ¥122.41 recently, compared with ¥121.86 late Tuesday in New York, while the euro traded at $1.0914 EURUSD, -0.5315% compared with $1.0929 late Tuesday in New York, according to FactSet data.

The British pound GBPUSD, -0.3466% traded at $1.4990, compared with $1.5040 late Tuesday.

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