First U.S. rate rise in decade sends dollar to 2-week high

December 17, 2015 8:55 AM

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First U.S. rate rise in decade sends dollar to 2-week high

LONDON The dollar hit a two-week high against a basket of major rivals on Friday after the U.S. Federal Reserve raised interest rates for the first time in almost a decade and signaled four more hikes are to come next year.

In a widely anticipated move, the Fed increased its benchmark interest rates by a quarter of a percentage point on Wednesday. That sent shares soaring, the two-year Treasury yield US2YT=RR to its highest point in five years, and the greenback up around 1 percent up against its basket. .DXY [US/]

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