The euro fell against the dollar on Wednesday after the Federal Reserve kept interest rates unchanged.
The common currency fell about 1 percent to $1.0898 — an early August low — following the announcement. It was up 0.36 percent 10 minutes ahead of the central bank's statement release.
Euro/dollar 1 p.m. ETSource: FactSet
The dollar index, which measures the greenback against a basket of major currencies, reversed losses to trade up 0.88 percent at 97.77. It was down 0.35 percent 10 minutes before the statement.
The Federal Open Market Committee voted to maintain its zero interest rate policy, citing weakness in exports and soft inflation as reasons to continue its historically easy monetary policy. The FOMC vote saw just one dissent, from Jeffrey Lacker, who wanted to see the Fed enact a quarter-point hike.
"The Fed is still very data dependent," Anika Khan, Wells Fargo Securities Senior Economist, told CNBC's "Power Lunch." "And when we look at where the overall economic growth is in the U.S., we clearly see that overall economic conditions have somewhat downshifted. Labor market conditions have been soft. The overall inflation level is still low. However, we should still be vigilant on the data that came out in recent months."
"The messaging is still very disunited," Khan said. "If we look at what the Fed could potentially be messaging for December, Janet Yellen will speak two times before that meeting, and so they will have an opportunity to all get on the same page and at least hear one clear message at that point."