The dollar index is the highest in two decades before the US Central Bank’s decision to raise interest rates

The US dollar rose once morest a basket of currencies today, recording its highest level in two decades, while traders are preparing for an active increase in interest rates from the Federal Reserve this week to try to curb inflation.

The dollar index, which measures the performance of the greenback once morest a basket of six other major currencies, rose 0.30% to 105.392 by 1500 GMT, its strongest level since December 2002.

Among the major currencies, sterling fell regarding 1% to $1.2012, its lowest level since March 2020.