Urgent: U.S. dollar drops on Fed announcement

The U.S. dollar slumped against other major currencies on Wednesday as the Federal Reserve remained cautious in raising interest rates in its policy statement.

In late New York trading, the euro rose to 1.0744 dollars from 1.0600 dollars in the previous session, while the dollar bought 120.69 Japanese yen, lower than 121.39 yen of the previous session. Endite