The US dollar rose to its highest level in 20 years, compared to major currencies, supported by expectations of tightening monetary policy at the Federal Reserve (the US central bank), and following Russian President Vladimir Putin issued an order for the first general mobilization in the country since World War II.
The dollar index, which measures the performance of the US currency once morest a basket of six major currencies, including the euro, sterling and the yen, rose to 111.79 for the first time since mid-2002.
The dollar rose to a 24-year high above 145 yen, following the Bank of Japan kept interest rates very low and accommodative monetary policy directives.
The dollar also hit new highs once morest the New Zealand and Australian dollars and rose once morest the offshore Chinese yuan and the Korean won.
The expectations of the US Central Bank show that the interest rate will rise to 4.6% next year, and not cut interest until 2024. And raise the interest rate by another 75 basis points to reach a range between 3 and 3.25%, as was widely expected.
The British pound fell to its lowest level in 37 years to $ 1.1221, and recorded in its latest trading, a decrease of 0.26% to $ 1.1240.
The euro fell to a 20-year low of $0.9807, before trading 0.18% lower at $0.9820.
