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Dollar soars vs euro, yen a day after Fed meeting

Dollar soars vs euro, yen a day after Fed meeting

(AP) Dollar soars vs euro, yen a day after Fed meeting
NEW YORK
The dollar rose sharply against the euro and yen Wednesday a day after the Federal Reserve said the U.S. economy is improving.

The euro fell to $1.3024 in late trading Wednesday from $1.3073 late Tuesday. The euro fell as low as $1.3009 earlier, its lowest point against the dollar in nearly a month.

The Fed said late Tuesday that it expects the job market to improve steadily. As expected, the Fed didn’t take any steps for further economic stimulus. The comments were made in a statement after a one-day policy meeting.

The dollar rose to 83.72 Japanese yen late Wednesday from 82.89 yen late Tuesday. The dollar rose as high as 83.83 yen early Wednesday, its highest point against the yen since April 13.

The yen has been weakening against the dollar ever since the Bank of Japan increased its economic stimulus program in February.

The dollar also rallied against other currencies.

The British pound fell to $1.5675 from $1.5690. The dollar rose to 0.9302 Swiss franc from 0.9230 Swiss franc and to 99.36 Canadian cents from 99.15 Canadian cents.

The U.S. currency also rose against the Australian and New Zealand dollar, South Korean won, Hong Kong dollar and Brazilian real.

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