FX.co ★ Fed leaves key interest rate unchanged

The Federal Reserve System of the United States has left its benchmark interest rate unchanged at the level of 0.25 percent to 0.5 percent. Meanwhile, Fed Chair Janet Yellen said two interest rate hikes are possible by the year end.
The US regulator also lowered its GDP growth forecasts for 2016 from 2.2% to 2.0% and for 2017 from 2.1% to 2.0%
Yellen cited the UK referendum as a factor in the Fed's decision to leave interest rates unchanged.
In the meantime, US stocks closed lower for the fifth consecutive day on the back of Brexit concerns.