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US dollar appreciates in late trading

WION Web Team
New Delhi, Delhi, IndiaUpdated: Apr 16, 2020, 08:31 AM IST
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March 16, 2022: The central bank raised interest rates for the first time since 2018 to the 0.25-0.50 percent range. April 6, 2022: The minutes from the Fed's March policy meeting are released, showing that many participants see one or more 50-basis point rate hikes as necessary if inflation pressure continues. April 29, 2022: The Fed's preferred inflation gauge, the personal consumption expenditures price index, rises 6.6 percent year-on-year and 0.9 percent month-on-month in March, both faster paces than the month prior. Photograph:(AFP)

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According to Xinhua news agency, in late New York trading, the euro fell to $1.0921 from $1.0979 in the previous session, and the British pound fell to $1.2550 from $1.2627 in the previous session.

The US dollar improved in late trading on Wednesday as the dollar index, which measures the greenback against six major peers, increased 0.58 per cent at 99.4635 in late trading.

According to Xinhua news agency, in late New York trading, the euro fell to $1.0921 from $1.0979 in the previous session, and the British pound fell to $1.2550 from $1.2627 in the previous session.

The Australian dollar decreased to $0.6329 from $0.6434.

The US dollar bought 107.45 Japanese yen, higher than 107.16 Japanese yen of the previous session. The US dollar was up to 0.9636 Swiss franc from 0.9602 Swiss franc, and it increased to 1.4083 Canadian dollars from 1.3909 Canadian dollars.

On the data front, US retail and food services sales were $483.1 billion in March, a decline of 8.7 per cent from the previous month, according to a preliminary report from the Commerce Department released on Wednesday.

The Empire State manufacturing index, a key metric to gauge business activity growth in New York State, plummeted to -78.2 in April, its lowest level on record, the Federal Reserve Bank of New York reported.

(with inputs)