U.S. dollar jumps as Fed maintains hawkish stance

Xinhua
23 Sep 2022, 05:55 GMT+10

NEW YORK, Sept. 22 (Xinhua) -- The U.S. dollar appreciated noticeably in late trading on Thursday, driven by the Federal Reserve's latest announcement on rates.

The dollar index, which measures the greenback against six major peers, increased 0.64 percent to 111.3520.

In late New York trading, the euro was down to 0.9833 U.S. dollars from 0.9911 dollars in the previous session, and the British pound decreased to 1.1251 U.S. dollars from 1.1354 dollars in the previous session. The Australian dollar fell to 0.6640 U.S. dollars from 0.6702 U.S. dollars.

The U.S. dollar bought 142.41 Japanese yen, lower than 143.57 Japanese yen of the previous session. The U.S. dollar rose to 0.9787 Swiss francs from 0.9627 Swiss francs, and it was up to 1.3492 Canadian dollars from 1.3369 Canadian dollars.

The Fed on Wednesday raised interest rates by 75 basis points for a third straight time this year and signaled more aggressive rate hikes ahead in a bid to rein in inflation.

On the economic front, U.S. initial jobless claims, a rough way to measure layoffs, increased by 5,000 to 213,000 for the week ending Sept. 17, the Department of Labor reported on Thursday. Economists polled by the Wall Street Journal had forecast new claims to total 214,000.

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