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2008.12.1616:50:00UTC+00Greenback ticks down against major Latin American currencies amid FOMC's rate decision

The US dollar ticked down against its major Latin American counterparts following the release of Fed's interest rate decision during New York trading on Tuesday. The greenback dropped to 1-month low versus Mexican peso, multi-month lows against the Colombian peso and the Chilean peso.

The US Federal Reserve was announced its key interest rate at 2:15 pm ET today. In the announcement, the US Federal Open Market Committee, the Fed's policy-making arm said it slashed the key interest rate to between zero and 0.25 percent -- the lowest level on record.

The US currency declined against the Brazilian real following the announcement of FOMC rate decision during New York trading on Tuesday. At 4:20 pm ET, the dollar-real pair dropped to a 2-week low of 2.3080 from yesterday's closing value of 2.3840.

Extending previous session's downtrend, the US dollar slipped against its Mexican counterpart in New York afternoon trading on Tuesday. The greenback fell to 1-month low of 12.9837 versus the Mexican peso by about 3:20 pm ET, compared to Monday's New York session close of 13.3025. As of now, the pair is trading at 13.02.

Against its Colombian counterpart, the dollar traded lower during New York afternoon deal today. At about 12:25 pm ET, the pair touched 2220.50, which may be compared to yesterday's closing value of 2250.40. This set a multi-month low for the US currency. The dollar has been in a downward channel against the Colombian for the past 8 days.

The dollar, which closed yesterday's New York session at 641.00 against the Chilean peso, dropped to a new multi-month low of 66.95 in early morning today. Currently, the pair is worth 638.55.

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