Wed, 18 May 2022

U.S. dollar rises amid hawkish Fed stance

Xinhua
18 Jan 2022, 07:05 GMT+10

NEW YORK, Jan. 17 (Xinhua) -- The U.S. dollar moved higher in late trading on Monday as market participants weighed the Federal Reserve's hawkish stance.

The dollar index, which measures the greenback against six major peers, was up 0.10 percent at 95.2596.

In late New York trading, the euro was down to 1.1406 U.S. dollars from 1.1415 dollars in the previous session, and the British pound fell to 1.3646 dollars from 1.3676 U.S. dollars in the previous session. The Australian dollar was up to 0.7209 U.S. dollar from 0.7208 dollar.

The U.S. dollar bought 114.58 Japanese yen, higher than 114.14 Japanese yen of the previous session. The U.S. dollar was up to 0.9143 Swiss franc from 0.9137 Swiss franc, and it decreased to 1.2519 Canadian dollars from 1.2560 Canadian dollars.

The above market reactions came as Fed officials signaled last week that the central bank could start raising interest rates in March as U.S. annual inflation surged to an almost 40-year high in December.

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