Dollar Hits Seven-Week High After Fed Interest Rate Hike

The dollar has hit a seven-week high following an interest rate hike by the Federal Reserve. The dollar index, which measures the greenback against a basket of currencies, last traded at $100.33, its strongest level since July 31.

The euro was pushed to $1.1456, near a seven-week low, while sterling remained flat at $1.3377 ahead of the Bank of England's meeting on Thursday.

The yen hovered near a two-week low at 156.20 per dollar as markets awaited the Bank of Japan's decision on Friday.