Investing.com - The dollar was little changed against the other major currencies in quiet trade on Friday, as demand for the greenback remained under pressure after the Federal Reserve said interest rates would remain low for some time.
The dollar was steady against the euro, with EUR/USD up 0.01% to 1.3609.
The dollar remained under pressure after the Fed gave no indication of when interest rates could start to rise at the conclusion of its two-day meeting on Wednesday. In addition, the Fed’s forecast of where interest rates might reach in the long term fell from 4% to 3.75%.
The central bank cut its bond purchases by $10 billion a month, to $35 billion, saying there was "sufficient underlying strength" in the U.S. economy to continue tapering.
The greenback shrugged off data on Thursday showing that U.S. jobless claims fell more than expected last week, as well as a separate report showing that manufacturing activity in the Philadelphia area expanded at the fastest rate in eight months in June.
In the euro zone, official data earlier showed that German producer price inflation fell 0.2% last month, compared to expectations for a 0.2% rise, after a 0.1% downtick in April.
The pound edged up against the dollar, to trade near five-year highs with GBP/USD slipping 0.10% to 1.7058.
Official data showed that U.K. public sector net borrowing rose to £11.48 billion in May, from a upwardly revised £9.00 billion the previous month. Analysts had expected public sector net borrowing to rise to £12.00 billion last month.
The dollar was little changed against the yen and the Swiss franc, with USD/JPY inching 0.04% higher to 101.99 and with USD/CHF easing up 0.03% to 0.8942.
The greenback was steady to higher against the Australian, New Zealand and Canadian dollars, with AUD/USD down 0.01% to 0.9397, NZD/USD slipping 0.13% to 0.8705 and USD/CAD adding 0.04% to 1.0823.
The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.01% to 80.39, not far from lows of 80.24, the weakest level since May 27.
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