Dollar Slides After Split Fed Decision, Silver Holds Firm

The Federal Reserve's decision to keep interest rates unchanged has had an unexpected effect on the US Dollar, causing it to weaken despite a spike in US Treasury yields.

The DXY, which tracks the performance of the US Dollar against six currencies, fell by over 0.40% after hitting a six-day low at 100.93.

Silver prices, on the other hand, remained steady, trading at $57.17 as the Fed's decision failed to boost the Greenback.

The three dissenting votes from the Fed, led by Beth Hammack, Neel Kashkari, and Lorie Logan, who favored a 25-basis-point rate hike, contributed to the Dollar's weakness.