Fed Rate Hike Helps Steady Dollar – 26 September, 2018

The U.S. Federal Reserve raised interest rates for the third time this year, helping the dollar steady against a basket of major currencies. The dollar index boosted 0.15 percent overnight and remained steady at 94.261. Another rate hike is expected to take place in December, followed by three more hikes in 2019. Against the yen, the greenback was little changed at 112.76 yen, just under the two month high of 113.145 the day before. The euro gained 0.2 percent to $1.1749, and the pound was little changed at $1.3172.