Dollar strengthens as Fed hints at September interest-rate hike

July 27, 2016 6:12 PM

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Dollar strengthens as Fed hints at September interest-rate hike

The dollar strengthened against its main rivals Wednesday after the Federal Reserve left the door open for an interest-rate hike later this year.

The dollar was up 0.9% on the day, rising to 105.79 yen after the statement, compared with 105.62 ahead of the statement. Currency traders interpreted the statement as hawkish, pushing the dollar higher. The euro turned lower on the day, falling to $1.0975, compared with $1.0999 beforehand. The poun...

Also read: Solid Job Growth Strengthens Prospect for a Fed Rate Increase

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