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U.S. dollar rises ahead of Fed decision

NEW YORK
2022-07-27 04:05

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NEW YORK, July 26 (Xinhua) -- The U.S. dollar strengthened in late trading on Tuesday as market participants awaited a key policy decision from the Federal Reserve.

The dollar index, which measures the greenback against six major peers, rose 0.66 percent to 107.1880.

In late New York trading, the euro fell to 1.0126 U.S. dollars from 1.0223 dollars in the previous session, and the British pound fell to 1.2029 dollars from 1.2048 U.S. dollars in the previous session. The Australian dollar decreased to 0.6933 U.S. dollar from 0.6954 dollar.

The U.S. dollar bought 136.68 Japanese yen, lower than 136.70 Japanese yen of the previous session. The U.S. dollar decreased to 0.9629 Swiss franc from 0.9646 Swiss franc, and it rose to 1.2896 Canadian dollars from 1.2846 Canadian dollars.

The above market reactions came as the Fed is expected to deliver another sizable rate hike when concluding its two-day policy meeting on Wednesday.

On the data front, U.S. consumer confidence index fell to 95.7 in July, the lowest level since February 2021, on dimmer views of the economy amid persistent inflation, New York-based The Conference Board reported on Tuesday.
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