Economic news

Dollar remains firm after Fed signals rate hike in September

The U.S. dollar held steady versus a basket of its counterparts on Thursday, after the Federal Reserve assessed the state of the world’s largest economy as good and remained on tracks to gradually increase interest rates.

Photo: Reuters

The dollar index .DXY traded at 94.700, above a 3-1/2-week trough of 94.084 touched last week.

The greenback slid 0.15 percent to 111.56 yen though it still held steady after the Bank of Japan's promise to keep rates unchanged for an extended period.

The euro edged down 0.1 percent to $1.16505.

Sterling slipped 0.2 percent to $1.3105 before the Bank of England's policy decision due later in the day, with investors widely anticipating interest rates to be increased.

The Aussie lost 0.3 percent to around $0.7385.

The Canadian dollar was stable at C$1.3013, not far from Wednesday's seven-week peak of C$1.2975.


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