Federal Reserve rate hike boosts dollar
The U.S. Federal Reserve kept interest rates unchanged at a range of 3.50-3.75%, with expectations of raising them again by the end of 2026 due to inflation concerns. The dollar index rose by 0.5% to 100.01 points, the highest level in a week. Inflation expectations also increased from 2.7% to 3.6% by year's end. Meanwhile, the euro declined by 0.5% against the dollar, followed by a strengthening of the dollar as the previous monetary policy, which had indicated the possibility of interest rate cuts, was phased out.
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