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U.S. dollar rises amid Fed chair speech

2019-10-09 05:34

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NEW YORK, Oct. 8 (Xinhua) -- The U.S. dollar inched higher, as investors digested Federal Reserve Chairman Jerome Powell's latest speech.

The U.S. central bank will start expanding its balance sheet again, Powell said Tuesday at the annual meeting of the National Association for Business Economics.

As for the monetary policy ahead, Powell said "policy is not on a preset course," and the Fed will "act as appropriate to support continued growth."

The dollar index, which measures the greenback against six major peers, rose 0.16 percent at 99.1270 in late trading.

In late New York trading, the euro was down to 1.0954 dollars from 1.0973 dollars in the previous session, and the British pound fell to 1.2217 dollars from 1.2299 U.S. dollars in the previous session. The Australian dollar decreased to 0.6730 dollar from 0.6732 dollar.

The U.S. dollar bought 107.12 Japanese yen, lower than 107.27 Japanese yen of the previous session. The U.S. dollar decreased to 0.9938 Swiss franc from 0.9946 Swiss franc, and it rose to 1.3318 Canadian dollars from 1.3309 Canadian dollars.
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