Fed Rate Cuts Help Dollar Rally – 18 September, 2019

Interest rate cuts made by the U.S. Federal Reserve helped strengthen the dollar. The Fed cut 25 basis points as expected, helping the dollar reach a seven week high versus the yen at 108.47 yen. Against the Swiss franc, the dollar hit a three month high, and continued those gains against three more major currencies. Against the euro, the dollar climbed 0.3% to $1.1027, but dipped slightly against the pound to $1.2468. The New Zealand dollar last traded at $0.6332, while the Australian slipped $0.6811 on weak job data.