As it announced its 50 basis point interest rate cut, the U.S. Fed said it was confident inflation was on a clear path to 2%.

The Federal Reserve lowered its key interest rate by a hefty half percentage point Wednesday, moving ahead with its first rate cut in four years. As a result, the value of the dollar abroad fell slightly. Nevertheless, there's no need to rush to the nearest foreign currency exchange bureau if you have a trip abroad planned in the near future.