NEW YORK, July 20 (Xinhua) — The U.S. dollar appreciated in late buying and selling on Wednesday, whereas the euro declined, as market individuals awaited a key fee resolution from the European Central Bank (ECB).
The dollar index, which measures the buck towards six main friends, rose 0.37 p.c to 107.0760.
In late New York buying and selling, the euro fell to 1.0179 U.S. {dollars} from 1.0234 {dollars} within the earlier session, and the British pound decreased to 1.1967 {dollars} from 1.1998 U.S. {dollars} within the earlier session. The Australian dollar fell to 0.6886 U.S. dollar from 0.6896 dollar.
The U.S. dollar purchased 138.25 Japanese yen, greater than 138.21 Japanese yen of the earlier session. The U.S. dollar was as much as 0.9719 Swiss franc from 0.9690 Swiss franc, and it was right down to 1.2878 Canadian {dollars} from 1.2882 Canadian {dollars}.
The euro rallied over the previous three buying and selling classes on expectations that the ECB would possibly take into account a giant fee hike at its assembly on Thursday to tame record-high inflation.
“If there were 50 basis points tomorrow, that would be a strong signal for the EUR-positive direction,” Ulrich Leuchtmann, head of Commerzbank FX Research, mentioned Wednesday in a notice.
“If it’s only 25 basis points, however, I fear that the disappointment will be great,” he mentioned.