Dollar climbs following Fed rate decision
The dollar continued its gains against the euro after the U.S. Federal Reserve kept interest rates unchanged, with expectations of raising borrowing costs later in the year due to inflation concerns. The euro declined by 0.5% to reach 1.1553 dollars, while the dollar recovered its losses against the yen to trade at 160.435 yen. This happened as markets await the U.S. Federal Reserve's monetary policy decision under its new chairman, Kevin Worch.
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