This is an archived article that was published on sltrib.com in 2016, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

London • The positive momentum generated by the U.S. Federal Reserve's decision to keep interest rates unchanged has faded, particularly in Europe, where investors fretted Thursday over the consequent rise of the euro against the dollar.

KEEPING SCORE: In Europe, Britain's FTSE index of leading British shares was down 0.4 percent at 6,148 while Germany's DAX fell 1.7 percent to 9,809. The CAC-40 in France was 1.4 percent lower at 4,400. U.S. stocks were poised for a lower opening, with Dow futures and the broader S&P 500 futures down 0.4 percent.

FED FADES: The rise in the value of the euro against the dollar — largely a result of Wednesday's decision by the Fed to keep its main interest rate at 0.25 percent and its suggestion that increases this year will be limited — dented investor confidence in Europe. Figures showing that underlying inflation across the 19-country eurozone was not as low as thought in February also gave the euro a lift. A higher euro has the potential of weighing on exports from the 19-country eurozone as well as work against the European Central Bank's hopes to get inflation back up toward target. The euro is up 0.7 percent at $1.1292, having earlier hit a five-month high of $1.1329.

ANALYST TAKE: "The jubilant response from European stock markets to yesterday's Fed meeting has failed to last the course," said Joshua Mahony, Market Analyst at IG.

ASIA'S DAY: Japan's Nikkei 225 index closed 0.2 percent lower at 16,936.38 as dollar fell 0.8 percent to 111.90 yen, a development that's not going to help Japanese exporters. Elsewhere, Hong Kong's Hang Seng index climbed 1.2 percent to 20,503.81. Australia's S&P ASX 200 rose 1 percent to 5,168.20. Shanghai's composite index came back from early losses, gaining 1.2 percent to 2,904.83. South Korea's KOSPI added 0.7 percent to 1,987.99.

OIL: Benchmark U.S. crude gained 29 cents to trade at $38.75 a barrel on the New York Mercantile Exchange. Brent crude, the benchmark for international oils, rose 20 cents to $40.53 a barrel.