Sun, 28 May 2023

NEW YORK, Feb. 8 (Xinhua) -- The U.S. dollar inched higher in late trading on Wednesday as market participants assessed the Federal Reserve's future policy course.

The dollar index, which measures the greenback against six major peers, increased 0.005 percent to 103.4170.

In late New York trading, the euro was up to 1.0723 U.S. dollars from 1.0721 dollars in the previous session, and the British pound increased to 1.2069 U.S. dollars from 1.2037 dollars in the previous session.

The U.S. dollar bought 131.37 Japanese yen, higher than 131.09 Japanese yen of the previous session. The U.S. dollar dipped to 0.9202 Swiss francs from 0.9227 Swiss francs, and it climbed to 1.3439 Canadian dollars from 1.3410 Canadian dollars. The U.S. dollar rose to 10.5932 Swedish Kronor from 10.5844 Swedish Kronor.

During an event at the Economic Club of Washington, D.C. on Tuesday, Fed Chairman Jerome Powell reiterated that continued rate increases will be appropriate and that the "disinflationary process" has begun.

He said the U.S. payroll data underlined his view that Fed officials have a "significant road ahead" to cool inflation, adding they did not expect the jobs data "to be this strong."

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