London-Sana
The US dollar rose to its highest level in 20 years against major currencies today, supported by expectations of monetary policy tightening in the Federal Reserve.
Reuters reported that the dollar index, which measures the performance of the US currency, rose against a basket of six major currencies, including the euro, sterling and the yen for the first time since mid-2002.
The dollar rose to a 24-year high above 145 yen after the Bank of Japan kept interest rates very low and accommodative monetary policy directives today.
The dollar also hit new highs against the New Zealand and Australian dollars and rose against the offshore Chinese yuan and the Korean won.
The US central bank's expectations show that the interest rate will rise to 4.6 percent next year and not cut interest until 2024 and raise the interest rate by another 75 basis points to reach a range between 3 and 3.25 percent, as was widely expected.
The British pound fell to its lowest level in 37 years to $ 1.1221, and recorded in its latest trading, a decrease of 0.26 percent to $ 1.1240.
The euro fell to its lowest level in 20 years to $ 0.9807, before being traded down 0.18 percent from $ 0.9820.
The Australian dollar fell 0.6 percent to $0.6593, after touching $0.6538, its lowest since 2020.
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