Economic news

Dollar sags after Fed's interest rate hike

The U.S. Fed on Wednesday raised its key interest rate by a quarter of a percentage point, while its caution on inflation moderated anticipations for 2018 tightening, weighing on the greenback.

The dollar index was firm at 93.425 .DXY after falling about 0.7 percent in the previous session to move away from a one-month peak of 94.219 scaled on Tuesday.

The greenback traded at 112.625 yen after sliding 0.9 percent overnight.

The euro was unchanged at $1.1825 after rising 0.7 percent on Wednesday.

Sterling was virtually flat at $1.3429 as investors awaited the Bank of England policy meeting.



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