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Hong Kong, June 24 (QNA) – The dollar extended its gains on Wednesday, reaching its highest level in 13 months against a basket of major currencies, as investors sought safe-haven assets amid a sell-off in technology stocks and anticipation of an interest rate hike by the Federal Reserve.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, climbed to 101.44, its strongest level since May 13, 2025.
The euro traded at $1.1375, near its lowest level in a year, while the British pound edged down slightly to $1.3199.
The risk-sensitive Australian dollar held steady at US$0.6918 ahead of the latest consumer price index reading later in the day.
The New Zealand dollar slipped 0.05% to US$0.5665, hitting a new seven-month low.
The Japanese yen was last trading at 161.57 against the dollar after briefly falling to a two-year low of 161.93 late Monday, as the dollar continued its gains. A break above 161.96 would put the yen at its weakest level since 1986. (QNA)
