Economic news

Dollar climbs on hawkish Fed’s message

The dollar strengthened versus a basket of its main rivals on Thursday after the Federal Reserve confirmed its confidence about inflation and GDP's growth, reinforcing forecasts it will increase interest rates several more times in 2018.

Photo: Reuters

The dollar index was stable at 89.127 having bounced back from a three-year low of 88.438 touched last week. The index slumped 3.2 percent last month.

The greenback inched up 0.2 percent to 109.36 yen, moving away from a four-month trough of 108.280 scaled on Friday.

The euro traded at $1.2417, having slid from a peak of $1.2475 hit in the previous session.

The Canadian dollar was firm at $1.2312, having reached a four-month top of $1.2250 on Wednesday.

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