The dollar initially slipped slightly Wednesday after the U.S. Federal Reserve's policy announcement, but then tipped a bit higher as investors digested the central bank's statement. The Fed said it would stay on its credit easing path and was prepared to buy U.S. Treasurys if warranted. It said the economy was weakening, and it was worried about deflation, but still expected a recovery in the second half. The dollar index , which measures the U.S. unit against a basket of six major currencies, was at 84.472, up from 83.930 after the announcement, and 84.010 shortly before it. The dollar bought 90.49 yen, up from 89.91 yen soon after the announcement, and 90.02 yen shortly before the central bank's statement. The euro was trading at $1.3178, down from $1.3262 right after the announcement and $1.3260 before it.

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