U.S. dollar climbs as Fed delivers another rate hike

Xinhua
22 Sep 2022, 02:00 GMT+10

NEW YORK, Sept. 21 (Xinhua) -- The U.S. dollar appreciated in late trading on Wednesday after the Federal Reserve approved another big rate hike.

The dollar index, which measures the greenback against six major peers, rose 0.39 percent to 110.6410.

In late New York trading, the euro was down to 0.9911 U.S. dollars from 0.9972 dollars in the previous session, and the British pound was down to 1.1354 U.S. dollars from 1.1370 dollars in the previous session. The Australian dollar rose to 0.6702 U.S. dollars from 0.6692 dollars.

The U.S. dollar bought 143.57 Japanese yen, lower than 143.66 Japanese yen of the previous session. The U.S. dollar decreased to 0.9627 Swiss francs from 0.9640 Swiss francs, and it rose to 1.3369 Canadian dollars from 1.3364 Canadian dollars.

The Fed on Wednesday delivered a third consecutive 75-basis-point hike this year, bringing the federal funds rate to a new range of 3 percent to 3.25 percent, in an aggressive move to fight stubborn inflation.

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