The US Federal Reserve has raised interest rates for the third time this year and intends to continue.
The US dollar hit a 20-year high after another rate hike by the US Federal Reserve, Reuters reports.
The US Federal Reserve raised interest rates for the third time by 75 basis points – up to 3-3.25%.
Against this background, the dollar index, which measures the ratio of the dollar to a basket of securities, recently updated a 20-year high at 111.72.
The euro fell to a 20-year low of $0.9807. The yen briefly hit a 24-year low.
Gold fell 1%. The pound sterling, the Aussie, the kiwi, the Canadian dollar, the Sing dollar and the yuan hit significant lows. S&P 500 futures fell 0.6% and European futures fell 2%.
Also, against the backdrop of the Fed’s decision, oil prices are rising. Brent futures rose 0.37% to $90.16 a barrel. US West Texas Intermediate (WTI) oil rose 0.35% to $83.23.
The last time the Fed raised interest rates was at the end of July.
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Source: korrespondent
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