Market News
Dollar strengthens as market digests Fed's hawkish cut - REUTERS
By Chibuike Oguh, Harry Robertson and Rae Wee
- Summary
- Dollar trades near Nov 2022 high
- Yen tumbles vs greenback after BOJ's Ueda stresses patience
- Strong US Q3 GDP data lends dollar support
NEW YORK/LONDON/SINGAPORE, Dec 19 (Reuters) - The dollar hovered near its two-year high on Thursday after the Federal Reserve cut interest rates and signaled a much slower monetary policy easing trajectory in 2025, while the yen weakened against the greenback after the Bank of Japan held rates steady.
The dollar edged higher from losses early in the session after a stronger-than-expected reading on U.S. third quarter GDP showed the economy grew at a 3.3% annual rate.
