August 9, 2011 / 6:45 PM / 6 years ago

U.S. dollar extends losses vs euro, yen after Fed

NEW YORK, Aug 9 (Reuters) - The U.S. dollar extended losses against the euro and yen on Tuesday after the Federal Reserve said it will keep interest rates low for at least two years. [ID:nN1E7780FW]

The dollar fell to a session low of 76.81 yen, according to the EBS trading platform JPY=EBS. It last traded at 76.92, down 1 percent on the day. It traded at 77.08 prior to the central bank's statement.

Against the euro EUR=EBS, the dollar fell to $1.4290 compared with $1.4248 prior to the statement. It last traded at $1.4242, down 0,5 percent on the day.

Interest rate differentials are a key driver of currencies.

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