Dollar Hits Five-Week High Following US Interest Rate Hike
The US Dollar rose against a basket of currencies today, reaching its highest level in approximately five weeks, following the Federal Reserve's decision to raise interest rates to a range of 3.75% to 4%.
The dollar index increased by 0.3% to 99.961 points. The euro decreased by 0.3% to $1.1502, while the British pound dropped by 0.5% to $1.34155. Against the Japanese Yen, the dollar gained 0.3% to 155.49 Yen.
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- Dollar Strength: The recent hike in interest rates has bolstered the dollar's position in the global currency market.