TOKYO : The U.S. dollar rallied in Asian trading on Thursday after the Federal Reserve signalled rate hikes later in the year, while China's and New Zealand's currencies fell on signs of weakness in those economies.The dollar index rose 0.28 per cent to 103.21, recovering from a four-week low of 102.66 on Wednesday after the Fed held interest rates steady but signalled that borrowing costs would increase by another 50 basis points by end-December.
The Bank of Japan follows on Friday, when it is expected to maintain its ultra-dovish stance and yield curve control settings.
Source: News Formal (newsformal.com)
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