NEW YORK, Dec 13 (Reuters) - The dollar dropped against
the euro and yen on Wednesday after the Federal Reserve signaled
in new economic projections that the historic tightening of U.S.
monetary policy engineered over the last two years is at an end
and lower borrowing costs are coming in 2024.
    A near unanimous 17 of 19 Fed officials project that the
policy rate will be lower by the end of 2024 than it is now -
with the median projection showing the rate falling
three-quarters of a percentage point from the current
5.25%-5.50% range. No officials see rates higher by the end of
next year.
    The U.S. dollar index dropped to 103.31, the lowest
since Dec. 7. The euro rose to $1.8475, the highest
since Dec. 5, and the greenback fell to 144.19 Japanese yen, the
lowest since Dec. 8..
    
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    Currency bid prices at 2:08PM (1908 GMT)
 Description      RIC         Last           U.S. Close  Pct Change      YTD Pct       High Bid    Low Bid
                                              Previous                    Change                   
                                              Session                                              
 Dollar index                 103.4400       103.7600    -0.30%          -0.048%       +104.0300   +103.3100
 Euro/Dollar                  $1.0829        $1.0795     +0.31%          +1.05%        +$1.0848    +$1.0774
 Dollar/Yen                   144.3500       145.4650    -0.73%          +10.14%       +145.9900   +144.1900
 Euro/Yen                     156.34         156.98      -0.41%          +11.44%       +157.4800   +156.2700
 Dollar/Swiss                 0.8733         0.8753      -0.21%          -5.54%        +0.8780     +0.8728
 Sterling/Dollar              $1.2564        $1.2563     +0.02%          +3.90%        +$1.2584    +$1.2501
 Dollar/Canadian              1.3554         1.3590      -0.26%          +0.04%        +1.3608     +1.3545
 Aussie/Dollar                $0.6620        $0.6559     +0.91%          -2.90%        +$0.6630    +$0.6542
 Euro/Swiss                   0.9458         0.9448      +0.11%          -4.42%        +0.9469     +0.9437
 Euro/Sterling                0.8616         0.8592      +0.28%          -2.58%        +0.8626     +0.8586
 NZ                           $0.6161        $0.6135     +0.48%          -2.92%        +$0.6174    +$0.6085
 Dollar/Dollar                                                                                     
 Dollar/Norway                10.8370        10.9620     -1.25%          +10.30%       +11.0080    +10.8200
 Euro/Norway                  11.7403        11.8297     -0.76%          +11.88%       +11.8693    +11.7351
 Dollar/Sweden                10.3822        10.4305     +0.05%          -0.25%        +10.4642    +10.3590
 Euro/Sweden                  11.2684        11.2627     +0.05%          +1.07%        +11.2862    +11.2440
 
    
 (Reporting by Karen Brettell; editing by Chizu Nomiyama)