RIO DE JANEIRO, BRAZIL - The dollar closed Wednesday with the biggest drop and at the lowest level in two weeks, suffering from afternoon selling after the United States Federal Reserve indicated that it would maintain monetary stimulus for longer.
The market had been eagerly awaiting the Fed's signal at the conclusion of its monetary policy meeting for days. When market participants read the document and heard the statements of Fed Chairman Jerome Powell, investors began to sell dollars.
The spot dollar fell 1.26 percent to R$5.1104.
The percentage decline is the sharpest since July 14, when . . .