dollar, with the pound up by 0.50 percent, to 1.2277. However, the British pound continued to gain strength against the U.S. dollar also saw a slight increase against the Canadian dollar, with the USDCAD pair up by 0.04 percent, to 1.3718. dollar weakened against the Japanese yen, with the USDJPY pair down by 0.99 percent, or 1.317, to 131.16. dollar, with the EURUSD pair up by 0.92 percent, at 1.0864. trading on Wednesday, the euro gained ground against the U.S. On foreign exchange markets, in late U.S. The Nasdaq Composite retreated 190.15 points or 1.60 percent to 11,669.96. The Dow Jones industrials tumbled 530.49 points or 1.63 percent to 32,030.11. The Standard and Poor's 500 decreased 65.90 points or 1.65 percent to 3,936.97.
In the UK, inflation in February peaked at 10.40 percent, well ahead of projections of 9.9 percent.
"The Committee anticipates that some additional policy firming may be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to two percent over time." "The Committee will closely monitor incoming information and assess the implications for monetary policy," the Federal Reserves Open Market Committee said in raising rates by a quarter point following their traditional two month meeting Wednesday. interest rates of 0.25 percent, and a jump in inflation in the UK kept buyers at bay on Wall Street Wednesday, with the major indices falling sharply in a late afternoon sell-off. NEW YORK, New York - A hike in official U.S.
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