The US Dollar Raises Global Earnings to the Highest Level in Two Years



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Direct: The US dollar continued its gains against major currencies on Thursday at its highest level in two years, with the Fed's decision to lower interest rates before the announcement of economic data.

At 7:50 am GMT, the dollar was up $ 1.140, its highest level since May 16, 2017.

The dollar also rose 0.3% against the yen, reaching 109.14 yen, the first time that it has exceeded 109 yen since the end of May.

The greenback rose 0.3% to $ 1.2122 and 0.2% to 0.9964.

In the main dollar index, which measures the performance of the currency against six major currencies, it rose about 0.3% to 98,849, the highest level in two years.

The Fed yesterday decided to cut interest rates by 25 basis points to a level ranging from 2% to 2.25%.

Federal Reserve Chairman Jerome Powell said they had considered cutting rates primarily for a medium-term monetary policy adjustment, suggesting that there could be no further rate cuts during the coming period.

Later in the day, the ISM industrial production index in the United States is expected to be released later in the day, as well as data on construction spending and job applications.

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