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TOKYO: The US dollar rallied in Asian trading on Thursday after the Federal Reserve signalled rate hikes later in...

By Rocky Swift TOKYO (Reuters) - 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 market's attention is now turning to other central bank decisions late this week. The dollar index rose 0.28% to 103.21, recovering from a four-week low

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 market's attention is now turning to other central bank decisions late this week, with

The dollar index rose 0.28% 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 (bps) by end-December. The European Central Bank announces its next rate decision on Thursday, with markets pricing in a 25 basis-point hike and another in July before a pause for the rest of the year.

The U.S. dollar strengthened on Thursday after the Federal Reserve left borrowing costs unchanged but signaled further rate hikes to come.