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US dollar rises as traders await Fed decision

21/09/2022 12:08 PM

NEW YORK, Sept 21 (Bernama) -- The US dollar increased in late trading on Tuesday as market participants braced for a key decision from the Federal Reserve, reported Xinhua.

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

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

The US dollar bought 143.66 Japanese yen, higher than 143.25 Japanese yen of the previous session. The US 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 US 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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