Mumbai, June 18 -- US dollar index surged above 100 mark yesterday to hit two and half month high following a slightly hawkish tilt displayed by the US Fed in its latest monetary policy meeting. The Federal Reserve held the benchmark interest rate steady at 3.50% to 3.75% but hinted at rising borrowing costs later this year. New quarterly projections showed that nine Fed officials now anticipate an interest rate hike by the end of 2026. This is supporting the US currency after a 0.60% spike in last session. It currently quotes at 100.08, up 0.20% on the day and has added more than 1% so far this month.

Published by HT Digital Content Services with permission from Capital Market....