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Dollar jumps after Fed pulls interest rate hikes into 2023 - Metro US

Dollar jumps after Fed pulls interest rate hikes into 2023

FILE PHOTO: An employee counts U.S. dollar bills at a money exchange office in central Cairo

NEW YORK (Reuters) – The dollar jumped against a basket of currencies on Wednesday after the Federal Reserve brought forward its projections for the first post-pandemic interest rate hikes into 2023, citing an improved health situation and dropping a longstanding reference that the crisis was weighing on the economy.

The dollar index, which tracks the greenback against six major currencies, was up 0.41% at 90.901, its highest since May 7.

(Reporting by Saqib Iqbal Ahmed)

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