Sat, 10 Dec 2022

U.S. dollar rises as traders assess Fed policy path

Xinhua
19 Nov 2022, 07:18 GMT+10

NEW YORK, Nov. 18 (Xinhua) -- The U.S. dollar moved higher in late trading on Friday as market participants bet on more rate hikes from the Federal Reserve.

The dollar index, which measures the greenback against six major peers, rose 0.22 percent to 106.9300.

In late New York trading, the euro was down to 1.0331 U.S. dollars from 1.0368 dollars in the previous session, and the British pound was up to 1.1890 U.S. dollars from 1.1851 dollars in the previous session.

The U.S. dollar bought 140.36 Japanese yen, higher than 140.23 Japanese yen of the previous session. The U.S. dollar was up to 0.9531 Swiss francs from 0.9520 Swiss francs, and it was up to 1.3384 Canadian dollars from 1.3331 Canadian dollars. The U.S. dollar rose to 10.6243 Swedish Kronor from 10.6177 Swedish Kronor.

The U.S. currency garnered some support from expectations of tighter Fed policy. A number of Fed members have made hawkish comments recently, calling for additional actions to bring inflation down.

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