New York (ANTARA) – The U.S. dollar strengthened against a basket of other major currencies late in trading on Friday after Federal Reserve (Fed) Chairman Jerome Powell announced further rate hikes future interest rate to control inflation.
Fed Chairman adopts tone falcon to fight inflation, but did not settle the debate over the likelihood of a rate hike at the US central bank meeting in September.
The US dollar index, which measures dollar against its six main rivals, it rose 0.31% to 108.8060.
At the close of trade in New York, the euro was down at US$0.9968 from 0.9973 US$ in the previous session, and the pound was down at US$1.1744 from 1.1828. US dollar in the previous session. The Australian dollar fell to US$0.6894 from US$0.6978.
The US dollar bought 137.37 Japanese yen, higher than 136.46 Japanese yen in the previous session. The US dollar fell from 0.9635 Swiss francs to 0.9664 Swiss francs and from 1.2937 Canadian dollars to 1.3026 Canadian dollars.
In his much-anticipated speech Friday at the Jackson Hole central bank symposium, Powell reiterated his pledge to fight forcefully against inflation, which is still near its highest level in four decades.
This news was broadcast on Antaranews.com with the title: US dollar strengthens after Fed Chairman Jerome Powel sends ‘hawk’ message
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