Business
US dollar rises amid Fed official's remarks
New York, Sep 24: The US dollar increased against most major currencies amid a Fed official' s hawkish comments.
Boston Fed President Eric Rosengren said in a statement on Friday that the US short-term interest rates should be raised now, Xinhua news agency reported.
"I am arguing for modest, gradual tightening now, out of concern that not doing so today will put the recovery' s duration and sustainability at greater risk," he said.
In late New York trading, the euro rose to $1.1230 from $1.1206 of the previous session, and the British pound fell to $1.2958 from $1.3072. The Australian dollar slipped to $0.7617 from $0.7629.
The dollar bought 101.10 Japanese yen, higher than 100.90 yen in the previous session. The dollar climbed to 0.9697 Swiss francs from 0.9692 Swiss francs, and it inched up to 1.3174 Canadian dollars from 1.3067 Canadian dollars.
With no major data came out on Friday, Rosengren' s words renewed market expectation for a rate-hike soon.
The dollar index, which measures the greenback against six major currencies, was up 0.03 per cent at 95.481 in late trading.
In the previous two sessions, the greenback was under pressure as the Federal Reserve decided to keep interest rates unchanged in its September meeting.
6 minutes ago
24 News Channel in the forefront to help the revival of Wayanad after landslide tragedy
2 hours ago
Indian Diaspora Excited to Welcome Prime Minister Modi Ahead of U.S. Visit
2 hours ago
Biden Administration Rapidly Allocating Climate Funds as Trump Vows to Cut Them
3 hours ago
Tesla, SpaceX, and X Employees Donate to Harris While Musk Supports Trump
3 hours ago
Biden to Meet Zelenskyy Next Week to Discuss Ukraine War, Says White House
3 hours ago
Woman sentenced to death for blasphemy in Pakistan amid ongoing human rights concerns
3 hours ago
Congress insults India on foreign land, is run by Tukde-Tukde gang, urban naxals": PM Modi
3 hours ago
Hollywood A-listers back Kamala Harris during Oprah show ahead of US polls
3 hours ago
Trump and Republicans Claim Non-Citizen Voting in U.S. Election, Raising Concerns
4 hours ago
Himachal govt to hand over Jangi Thopan Powari hydro project to state power corporation
5 hours ago
Rajasthan govt's amnesty scheme for miners
5 hours ago
India to see 35 lakh weddings from November-mid December, gold demand to surge
5 hours ago
Rajasthan Atomic Power Project-7 goes critical, to start power generation this year