The greenback eased further against major currencies Wednesday as the Federal Reserve raised its growth forecasts for the U.S. economy.
The dollar plunged to a new 7-week low against the yen and 2-week low against the euro and the franc and a 6-day low against the pound.
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The U.S. dollar that closed yesterday's trading at 1.0090 against the Swiss franc declined to a 2-week low of 1.0044 in early deals on Wednesday. The next downside target level for the dollar-franc pair is seen at 1.0035.
The dollar has lost 1.6% against the franc from a 16-day high of 1.0225 hit on November 20.
The US dollar fell to a 2-week low of 1.5029 against the euro. This may be compared to Tuesday's closing value of 1.4969. If the dollar weakens further, it may target the 1.505 level.
The dollar plunged to a 14- 1/2 -month low of 1.5064 against the euro on October 26. Since then, the euro-dollar pair has largely been showing choppy trading.
The dollar weakened against the pound. At present, the dollar is trading at a 6-day low of 1.6730 against the pound with 1.688 seen as the next target level. The pound-dollar pair was worth 1.6586 at yesterday's close.
The dollar plummeted to 88.22 against the yen in early trading on Wednesday. This set the lowest point for the U.S. currency since October 08.
If the dollar-yen pair weakens further, it may target a multi-month low of 88.0. At yesterday's New York session close, the pair was quoted at 88.51.
