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U.S. dollar falls amid Fed chair remarks, ECB decision

NEW YORK
2022-09-09 05:31

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NEW YORK, Sept. 8 (Xinhua) -- The U.S. dollar declined in late trading on Thursday amid strength in the euro.

The dollar index, which measures the greenback against six major peers, fell 0.12 percent to 109.7090.

The euro strengthened after the European Central Bank (ECB) on Thursday raised key interest rates by 75 basis points.

Federal Reserve Chairman Jerome Powell on Thursday reaffirmed a commitment to a hawkish policy stance. During a discussion hosted by the Cato Institute, Powell said the Fed is strongly committed to bringing down inflation.

In late New York trading, the euro rose to 0.9994 U.S. dollars from 0.9985 dollars in the previous session, and the British pound decreased to 1.1500 U.S. dollars from 1.1502 dollars in the previous session. The Australian dollar was down to 0.6748 U.S. dollars from 0.6753 U.S. dollars.

The U.S. dollar bought 144.01 Japanese yen, lower than 144.13 Japanese yen of the previous session. The U.S. dollar was down to 0.9716 Swiss francs from 0.9782 Swiss francs, and it fell to 1.3095 Canadian dollars from 1.3140 Canadian dollars.
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