2023-06-15 05:35:02
The dollar rose in Asian trading on Thursday following the Federal Reserve signaled an interest rate hike later in the year, while the currencies of China and New Zealand fell amid signs of a slowdown in their economies.
Market attention is now turning to other central banks’ decisions late this week.
The dollar index rose 0.28% to 103.21, recovering from a four-week low of 102.66 hit on Wednesday following the Federal Reserve kept interest rates unchanged, but indicated that borrowing costs would rise another 50 basis points by the end of December.
The euro fell 0.12 percent to 1.0818 dollars, but rose once morest the Japanese currency 0.35 percent to 152.26 yen.
The yen also fell once morest the dollar, as it fell 0.46 percent to 140.735.
The New Zealand dollar fell 0.68% to $0.6170 following data showed that the New Zealand economy slipped into recession in the first quarter.
The Chinese yuan fell 0.1 percent and touched 7.1872 per dollar, the weakest level since November, following the People’s Bank of China lowered the cost of borrowing for its medium-term loans for the first time in ten months.
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