The US dollar fell against the main currencies after the Federal Reserve decision to reduce interest rates and the Open Market Committee of the US Federal Reserve decided today, Wednesday, to raise interest rates on federal funds 75 basis points to reach a range between 3. 75% and 4%, which is its highest level since the early year 2008 The move was made as part of the US Central Bank’s stringent policy strategy to combat standard inflation rates.
The dollar depreciated versus other currencies following the federal ruling.
The yen was the best currency along with the Australian and New Zealand dollars, who are sensitive to risk appetite, with a driven power As a rise in Chinese stock markets, this evening, Wednesday, at 146. 21 for the dollar. The dollar fell from a level close to a week in front of a basket of major competing currencies, and the yen was the best currency.
The US dollar’s performance versus a basket of six rival currencies, including the yen, the euro, and the pound sterling, is gauged by the dollar index, which fell by 0. 14% to 111. 32, but it hasn’t yet dropped from a high of 111 that he recorded on Tuesday. It was the highest number since October 25 at 78.
The dollar index has risen more than 15% so far this year with the US Central interest rate raised a sharp increase, which fell in other currencies and put pressure on the global economy.
Against the major currencies, the dollar decreased.
The Ministry of Finance and Japan Bank intervened to strengthen the yen in September for the first time since 1998 as a result of the yen’s decline versus the dollar.
The euro increased by 0. 14% to $ 0. 9887, but it is still close to the session’s low for the week of $ 0. 98535.
Sterling increased by 0. 24% to $ 1. 1513, although it did not change much from its record-low price on Tuesday at $ 1. 14365.
Australian dollars increased by 0.0.
43% to $ 0. 6421, together with Hong Kong’s influence, contributed to a rally in Chinese financial markets today, on Wednesday, with more rumours regarding the resumption of business as usual.
Dollar-wise, New Zealand increased by 0. 46% to 0. 5866 dollars, after it received additional support from a strong job report, which strengthened a significant increase in the interest rate this month..
The dollar decreased versus the major currencies following the Federal Reserve decision.
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