Dollar Rises as Fed Cites Economic Gains, Keeps Buying
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The dollar rose to the strongest level in almost two weeks against the yen after the Federal Reserve said it sees economic improvement even as it plans to maintain stimulus while it awaits evidence of further gains.
The Bloomberg U.S. Dollar Index touched the highest since Oct. 17, erasing an earlier loss, after policy makers issued a statement following a two-day meeting. The greenback fell earlier amid bets the central bank would keep buying $85 billion of bonds a month under quantitative easing. New Zealand’s dollar rose as the central bank said interest-rate increases are likely next year.