Business
US Dollar Climbs Following Federal Reserve Interest Rate Hike
Reported by Neha Sharma (Staff Writer) · Economic Times - Markets ·
✓ — also reported by Livemint - Markets
Representative image · Wikimedia CommonsThe US dollar moved up against major currencies after the Federal Reserve raised interest rates to fight inflation and hinted at more rate hikes to come. This pushed the dollar index to a high point not seen in nearly five weeks. Meanwhile, market traders believe there is an 80 percent chance that the Bank of Japan will also increase its rates on Friday. In the cryptocurrency market, Bitcoin held steady after taking a sharp fall on Tuesday.
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