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U.S. dollar rises amid rate hike expectations
Last Updated: 2018-10-19 11:13 | Xinhua
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The U.S. dollar climbed against other major currencies in late trading on Thursday, after the minutes from the U.S. Federal Reserve's September meeting suggested that the central bank probably will raise interest rates again in December.

The minutes released Wednesday showed that the central bank remains convinced it needs to tighten monetary policy to keep the economy steady.

"Participants generally anticipated that further gradual increases in the target range for the federal funds rate would most likely be consistent with a sustained economic expansion, strong labor market conditions and inflation near 2 percent over the medium term," said the minutes.

Market expectations for a Fed rate hike in December stood at 80.4 percent on Thursday, according to the CME Group's FedWatch tool.

On the economic front, in the week ending Oct. 13, the advance figure for seasonally adjusted initial claims was 210,000, a decrease of 5,000 from the previous week's revised level, the U.S. Department of Labor reported Thursday.

The 4-week moving average was 211,750, an increase of 2,000 from the previous week's revised average.

The dollar index, which measures the greenback against six major peers, rose 0.35 percent at 95.9053 in late trading.

In late New York trading, the euro fell to 1.1464 U.S. dollars from 1.1506 dollars in the previous session, and the British pound dipped to 1.3032 dollars from 1.3121 dollars in the previous session. The Australian dollar decreased to 0.7105 dollar from 0.7116 dollar.

The U.S. dollar bought 112.18 Japanese yen, lower than 112.48 Japanese yen of the previous session. The U.S. dollar increased to 0.9954 Swiss franc from 0.9949 Swiss franc, and it rose to 1.3078 Canadian dollars from 1.3012 Canadian dollars. Enditem

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