The dollar fell to a three-week low after the Federal Reserve held off on raising interest rates.

The U.S. central bank declined to boost its short-term interest-rate target at its policy-setting meeting in Washington, opting to delay an increase amid stubbornly low inflation, an uncertain outlook for global growth and recent financial-market turmoil.

The Bloomberg Dollar Spot Index dropped 0.4 percent percent to 1,196.46 as of 2:10 p.m. in New York, reaching the lowest level since Aug. 26. The U.S. currency declined 0.8 percent to $1.1378 per euro.

Source : Bloomberg