U.S. dollar rises as euro weakens


NEW YORK, June 29 (Xinhua) -- The U.S. dollar appreciated in late trading on Wednesday amid weakness in the euro.

The dollar index, which measures the greenback against six major peers, increased 0.58 percent to 105.1060.

In late New York trading, the euro was down to 1.0444 U.S. dollars from 1.0525 dollars in the previous session, and the British pound decreased to 1.2119 dollars from 1.2183 U.S. dollars in the previous session. The Australian dollar decreased to 0.6875 U.S. dollar from 0.6913 dollar.

The U.S. dollar bought 136.54 Japanese yen, higher than 136.29 Japanese yen of the previous session. The U.S. dollar was down to 0.9552 Swiss franc from 0.9572 Swiss franc, and it increased to 1.2895 Canadian dollars from 1.2871 Canadian dollars.

Traders continue to worry about inflation, assessing recession risk.

During a panel discussion with other top central bankers at a European Central Bank policy conference on Wednesday, U.S. Federal Reserve Chairman Jerome Powell said there was "no guarantee" the central bank can tame inflation without hurting the job market, while reiterating policymakers' aim to achieve a soft landing.

The Fed is raising interest rates aggressively as price pressures hit a 40-year high, triggering concerns over a possible recession.

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