Dollar holds near multi-week highs ahead of expected US rate hike

Singapore, September 16: The dollar held onto recent gains on Wednesday, trading near multi-week highs against several major currencies as markets awaited a US Federal Reserve decision that traders expect to deliver the first interest rate hike in a potential series of increases in borrowing costs.
The dollar rose alongside bond yields overnight, posting its strongest gains against the yen and New Zealand dollar. The kiwi fell to a two-month low of $0.5749 in Asian morning trade, while the yen weakened to a one-week low of 155.43 per dollar.
The euro traded at $1.1535, near Monday's one-month low of $1.1523, while sterling stood at $1.3470, not far above its six-week low of $1.3464 reached on Monday. The Australian dollar was steady at $0.7126.
Source: Emirates News Agency