Economic news

Dollar rises, Fed minutes confirm September rate hike

The dollar gained on Thursday as traders bet on the greenback amid political crisis in Australia and after the minutes of the U.S. central bank latest policy meeting confirmed further interest rates hikes.

Photo: Reuters

The dollar index added more than 0.3 percent to 95.453. The index recovered from an almost three-week trough of 94.934 touched overnight.

The euro lost near 0.4 percent at $1.1551, retreating from a two-week peak of $1.1623 hit overnight. The single currency had climbed for six straight sessions versus its U.S. Peer.

The yen had dropped 0.27 percent to 110.84 against the greenback as anticipations of further U.S. interest rate hikes hurt demand for the Japanese currency.

The yuan slipped 0.36 percent to 6.8734 yuan per dollar in offshore trading after the latest round of U.S. tariffs kicked off.

Sterling sank almost 0.4 percent to $1.2864 after the UK insisted on departure from the EU without a deal.

The Australian dollar slumped 0.8 percent to $0.7293, moving towards its 19-month trough of $0.72025 hit on Aug. 15.


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