Dollar Falls After Fed Hikes Interest Rates and Signals Pause
Last Updated: May 04, 2023, 00:07 IST
The dollar dropped after the Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point. (Representative image/Reuters)
The dollar index fell to a session low of 101.05 and the euro hit a session high of $1.10925. The dollar also fell to 134.82 against the Japanese yen
The dollar dropped after the Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point and signaled it may pause further increases.
The pause would give officials time to assess the fallout from recent bank failures, wait on the resolution of a political standoff over the U.S. debt ceiling, and monitor the course of inflation.
The dollar index fell to a session low of 101.05 and the euro hit a session high of $1.10925. The dollar also fell to 134.82 against the Japanese yen.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)
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