The US dollar falls after the Fed approves another jumbo interest rate hike

The US dollar falls after the Fed approves another jumbo interest rate hike

NEW YORK, Nov. 2 (Xinhua) — The U.S. weakened in late trading on Wednesday as market participants digested the ’s latest announcement.

The dollar index, which measures the greenback against six major peers, fell 0.1 percent to 111.3650.

In late New York trading, the euro was unchanged from the previous session at US$0.9888, and the British pound fell to US$1.1476 from US$1.1479 in the previous session.

The US dollar bought 146.96 , down from 148.18 Japanese yen from the previous session. The US dollar fell to 0.9983 Swiss francs from 0.9997 Swiss francs, and it rose to 1.3648 Canadian dollars from 1.3616 Canadian dollars. The US dollar increased to SEK 11.0251 from SEK 11.0160.

The Fed on Wednesday approved a fourth straight rate hike of 75 basis points, as part of its aggressive campaign against persistent .

The ’s key rate hike to a new target range of 3.75 percent to 4 percent, the highest level since January 2008.

Source: sn.dk

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