Sat, 01 Oct 2022

U.S. dollar rises as traders await Fed decision

21 Sep 2022, 06:18 GMT+10

NEW YORK, Sept. 20 (Xinhua) -- The U.S. dollar increased in late trading on Tuesday as market participants braced for a key decision from the Federal Reserve.

The dollar index, which measures the greenback against six major peers, rose 0.44 percent to 110.2150.

In late New York trading, the euro fell to 0.9972 U.S. dollars from 1.0014 dollars in the previous session, and the British pound fell to 1.1370 U.S. dollars from 1.1420 dollars in the previous session. The Australian dollar fell to 0.6692 U.S. dollars from 0.6714 dollars.

The U.S. dollar bought 143.66 Japanese yen, higher than 143.25 Japanese yen of the previous session. The U.S. dollar fell to 0.9640 Swiss francs from 0.9655 Swiss francs, and it was up to 1.3364 Canadian dollars from 1.3269 Canadian dollars.

The above market reactions came as traders paid close attention to the Fed. Markets are expecting the U.S. central bank to increase interest rates by at least 75 basis points when it concludes a two-day policy meeting on Wednesday.

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