U.S. dollar rebounds after Fed statement

The U.S. dollar rose against most other major currencies on Wednesday as the Federal Reserve decided to keep the interest rates unchanged after concluding its two-day policy meeting.

The U.S. central bank painted a relatively upbeat picture for the economy. "Labor market continued to strengthen and ... economic activity has continued to expand at a moderate pace," the Fed said in a statement released Wednesday afternoon.

The Fed also acknowledged the improved consumer and business sentiment following the election of Donald Trump as the U.S. President.

Analysts believed that the upbeat economic assessment suggested the central bank should be on track to raise interest rates in the future.

The Fed raised the benchmark interest rate by 25 basis points on December, the first and only time in 2016, and indicated a faster rate hike pace in 2017.

On the economic front, U.S. private sector employment increased by 246,000 jobs from December 2016 to January 2017, well above the market consensus of 168,000, said the January ADP National Employment Report Wednesday.

The January purchasing managers' index (PMI) came in at 56 percent, an increase of 1.5 percentage points from the seasonally adjusted December reading of 54.5 percent, according to the Institute for Supply Management (ISM) Wednesday.

The dollar index, which measures the greenback against six major peers, increased 0.07 percent at 99.580 in late trading Wednesday.

In late New York trading, the euro fell to 1.0779 dollars from 1.0801 dollars in the previous session, and the British pound rose to 1.2673 dollars from 1.2580 dollars in the previous session. The Australian dollar climbed to 0.7587 dollar from 0.7584 dollar.

The U.S. dollar bought 112.97 Japanese yen, higher than 112.76 yen of the previous session. The U.S. dollar gained to 0.9918 Swiss francs from 0.9888 Swiss francs, and it moved up to 1.3052 Canadian dollars from 1.3025 Canadian dollars. Endit