Dollar Rises as Fed Hikes Rates Again

The US dollar rose against other major currencies in the Asian session on Thursday following the Federal Reserve's interest-rate hike.

This marked the first rate increase since July 2023. The Fed also suggested that rates may need to go higher to control inflation.

According to forecasts, Fed officials expect the federal funds rate to end this year at 4.1 percent, up from the current range of 3.75 percent to 4 percent following a 25-bps increase.