US dollar rises

New York, March 24 (IANS) The US dollar increased against most major currencies as several Federal Reserve officials signalled an interest-rate hike as early as next month.

In late New York trading on Wednesday, the euro fell to $1.1184 from $1.1212 of the previous session, and the British pound dropped to $1.4115 from $1.4201, Xinhua news agency reported.

The Australian dollar went down to $0.7528 from $0.7615.

The US dollar bought 112.41 Japanese yen, the same as the previous session.

The dollar increased to 0.9749 Swiss franc from 0.9730 Swiss franc and inched up to 1.3206 Canadian dollars from 1. 3047 Canadian dollars.

Federal Reserve Bank of St. Louis President James Bullard said on Wednesday that the central bank policy makers should consider raising interest rates at their next meeting in April amid sound inflation outlook. Philadelphia Fed president Patrick Harker also said Tuesday that he would like to see policy makers tightening borrowing costs “a little faster.”

The greenback was firmly supported by the officials’ hawkish words. The dollar index, which measures the greenback against six major peers, was up 0.43 percent at 96.057 in late trading.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here