While you were sleeping: Dollar gains on Fed

Wed, 27 Jul 2016

By Margreet Dietz July 28 (BusinessDesk) - The US dollar climbed, while Wall Street reversed earlier losses, after Federal Reserve policy makers signalled that interest rates might rise this year. The Fed kept its key rate unchanged but was more optimistic about the economy. “Near-term risks to the economic outlook have diminished,” the Federal Open Market Committee said in a statement after its two-day meeting. “The labour market strengthened and ... economic activity has been expanding at a moderate rate” since the June meeting. ...

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