US dollar extends losses on Fed move, Trump revives trade war fears

HONG KONG: The dollar extended losses in Asia after the Federal Reserve stuck to its target for interest rate hikes this year, but fresh fears of a trade war hit equity markets as Donald Trump prepared new sanctions on China.

After one of the most anticipated meetings in recent months, the central bank lifted borrowing costs, as expected, to a decade high but indicated just two more over the rest of the year, confounding forecasts of three more.