U.S. dollar jumps amid rate hike expectations

NEW YORK, Aug. 19 (Xinhua) -- The U.S. dollar rose broadly against major rivals in late trading on Friday.

The dollar index, which measures the greenback against six major peers, surged 0.63 percent to 108.1630.

In late New York trading, the euro was down to 1.0036 U.S. dollars from 1.0093 dollars in the previous session, and the British pound was down to 1.1813 U.S. dollars from 1.1934 dollars in the previous session. The Australian dollar decreased to 0.6869 U.S. dollars from 0.6919 U.S. dollars.

The U.S. dollar bought 136.87 Japanese yen, higher than 135.87 Japanese yen of the previous session. The U.S. dollar was up to 0.9591 Swiss franc from 0.9563 Swiss franc, and it was up to 1.2993 Canadian dollars from 1.2940 Canadian dollars.

The above market reactions came as market participants bet on further interest rate hikes from the U.S. Federal Reserve.

Minutes of the Fed's July meeting released Wednesday showed that the central bank would continue its rate hiking campaign to tame decades-high inflation, while signaling caution with the pace of coming increases.

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