U.S. dollar slips after Fed decision

NEW YORK, Dec. 14 (Xinhua) -- The U.S. dollar weakened in late trading on Wednesday as market participants digested the Federal Reserve's latest rate decision.

The Fed on Wednesday raised interest rates by 50 basis points, after announcing four straight 75 basis point hikes at its most recent meetings, in an effort to quell inflation.

The latest increase boosted the target range for the federal funds rate