Dollar Climbs as ECB Raises Interest Rates Amid Energy-Driven Inflation

The US dollar rose against major currencies on Thursday after the European Central Bank (ECB) delivered an expected interest rate increase. The ECB raised rates for the second time this year to combat energy-driven inflation triggered by the Iran war.

The euro fell by 0.28% against the dollar, trading at $1.1599. Against the Swiss franc, the dollar strengthened 0.42% to 0.813.

The dollar index rose 0.34% to 99.12, snapping three straight sessions of losses.