Federal Reserve propels stocks, dollar higher

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
iStock [www.istockphoto.com]

New York - Stock markets in Europe scored big gains on Thursday, US equities resumed their upward march and the dollar rallied, a day after the Federal Reserve hiked interest rates.

The Fed decision on Wednesday to raise the benchmark interest rate was expected, but the announcement was more hawkish for the dollar than many expected because the US central bank signaled it expects three more rate increases next year instead of two.

The news sent the dollar spiking to a near 14-year high against the euro.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
14.13
-0.0%
Rand - Pound
19.92
-0.0%
Rand - Euro
17.16
-0.0%
Rand - Aus dollar
11.00
-0.0%
Rand - Yen
0.13
-0.0%
Gold
1,843.76
0.0%
Silver
27.42
0.0%
Palladium
2,894.50
0.0%
Platinum
1,229.50
0.0%
Brent Crude
68.71
+2.5%
Top 40
60,573
+0.6%
All Share
66,598
+0.7%
Resource 10
69,386
-0.1%
Industrial 25
83,277
+0.9%
Financial 15
12,685
+1.5%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 1453 votes
No, I did not.
52% - 3625 votes
My landlord refused
27% - 1925 votes
Vote