Dollar jumps after Fed pulls interest rate hikes into 2023
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FILE PHOTO: An employee counts U.S. dollar bills at a money exchange in central Cairo, Egypt, March 20, 2019. REUTERS/Mohamed Abd El Ghany
NEW YORK (Reuters) - The dollar jumped against a basket of currencies on Wednesday after the Federal Reserve brought forward its projections for the first post-pandemic interest rate hikes into 2023, citing an improved health situation and dropping a longstanding reference that the crisis was weighing on the economy.
The dollar index, which tracks the greenback against six major currencies, was up 0.41% at 90.901, its highest since May 7.
(Reporting by Saqib Iqbal Ahmed)
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