Dollar Gets Boost From Upbeat Fed View On Economy

NEW YORK (Dow Jones)--The dollar was modestly higher against the euro and yen Wednesday on the back of the Federal Reserve's upbeat view on the U.S. economy.

The Federal Open Market Committee's acknowledgment that the economy is picking up steam partly overshadowed its commitment to keep interest rates near zero "for an extended period" in its post-meeting statement.

As the FOMC decision and statement were largely in line with market expectations, the dollar's rebound was limited and it failed to climb above Y90 or push the euro below $1.45.

"The Fed was a little more upbeat on the economy than ...