The weaker pound's impact on Britons' living standards started to reflect in the latest data releases and today's retail sales figure may fall sharply after increasing 2.3% in April.
The dollar index, which tracks the US currency against six major peers, was last up 0.6 percent, and rose as high as 97.557, its highest since May 30.
"The economy is doing well, is showing resilience", Yellen said at a quarterly news conference. "That is the main reason why the dollar is remaining supported for now", said Manuel Oliveri, currency strategist at Credit Agricole in London. The euro edged up to $1.1219 from $1.1217.
U.S. stocks edged lower and prices of U.S. Treasuries pared gains after the Fed's policy statement.
People woke up to the news in Mumbai, while the Sensitive Index (Sensex) of the Bombay Stock Exchange, which had closed at 31,155 was trading lower at mid-day on Thursday at 31,125 points. The central bank bulked up its holdings to about $4.2 trillion in assets, including a lot of Treasury bonds and mortgage-backed securities, beginning during the dimmest days after the Panic of 2008 to stave off an even deeper depression. Fed leaders suggested they still expect to raise rates again later in the year.
"They have taken a cautious approach to balance sheet normalisation, but they have begun it and it's definitely a tightening of policy", said ING strategist Martin van Vliet. The rest of them said it would make such a move at its December 12-13 meeting.
Barbie's boyfriend Ken gets diverse makeover
Mattel has been tinkering with other lines to be more inclusive, such as adding its first boy doll for the American Girl brand. As with the announcement of new female dolls , it can be argued that Barbie should be pushing the envelope even further.
The Federal Reserve raised interest rates on Wednesday for the second time in three months, forecasting one more hike this year. There would be gradually rising monthly offloading targets for different types of securities that the Fed holds on its balance sheet.
"In this climate, there are no incentives to buy the dollar", she said.
Federal Reserve head Janet Yellen justified the decision by highlighting the resilience of the USA economy, which has been buoyed by a robust labour market.
"It's true that the central bank is under increased pressure to raise its benchmark rate", said Lee of BNK Securities. In a separate report from the Labor Department's, Consumer Price Index declined 0.1 percent in May.
The move registered swiftly in markets, with the territory's one-month interbank rate, known as HIBOR, jumping the most in six months, and a gauge of property stocks in Hong Kong retreating more than 1 percent.
They lowered projections for 2017 to 1.6% from their March estimate of 1.9%.
- Rowntree says mid-week players pressing for Lions test spots
- Barbie Brand Reveals Most Diverse Ken Lineup To Date
- Salon du Bourget : Boeing annonce une commande de vingt 737 MAX 10
- Global Markets - Oil slump spooks investors; China stocks underwhelmed by MSCI
- North Korea in the spotlight at high-level US-China talks
- Bear kills 16-year-old race participant in Alaska
- Why Was the Georgia Congressional Race the Most Expensive in History?
- Police arrest 15 men for 'celebrating' Pakistan win over India
- TF1 lance le programme court avec Norman, Cyprien et Natoo — Presque adultes
- Dozens killed, wounded in attack on Afghanistan police headquarters