US Dollar Value Today: Currency Rises After Fed Interest Rate Decision, While Stocks Climb
December 17, 2016
The dollar index (DXY) hit a 14-year high of nearly 103 against a currency basket early Thursday following the Federal Reserve’s decision to raise its target for the federal funds rate, an interbank lending rate closely followed by mortgage, bond and other interest rates. The currency’s rise marked a more than 2 percent jump since the Fed’s 2 p.m. Wednesday announcement.