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U.S. Dollar Rises After Kim-Trump Summit
 

The U.S. dollar index climbed against other major currencies in late trading on Tuesday, after the hotly anticipated meeting between the top leader of the Democratic People's Republic of Korea (DPRK) Kim Jong Un and U.S. President Donald Trump in Singapore concluded.

Kim and Trump signed a joint statement after their meeting, the first between incumbent leaders of the two countries.

In the joint statement, Trump committed to providing security guarantees to the DPRK, while Kim reaffirmed his firm and unwavering commitment to complete denuclearization of the Korean Peninsula.

Meanwhile, investors kept a close eye on the Federal Reserve's two-day policy meeting, as the central bank is widely expected to raise its interest rates for the second time in 2018 after concluding the meeting Wednesday afternoon.

On the economic front, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in May on a seasonally adjusted basis after rising 0.2 percent in April, the Labor Department said on Tuesday.

The index for all items less food and energy, or the Core CPI, rose 0.2 percent in May. This brings the year-on-year increase in the index to 2.2 percent, according to the department.

The dollar index, which measures the greenback against six major peers, rose 0.23 percent at 93.820 in late trading.

In late New York trading, the euro was down to 1.1748 dollars from 1.1787 dollars in the previous session, and the British pound fell to 1.3375 dollars from 1.3380 U.S. dollars in the previous session. The Australian dollar dipped to 0.7572 dollar from 0.7606 dollar.

The U.S. dollar bought 110.35 Japanese yen, higher than 110.03 Japanese yen of the previous session. The U.S. dollar was up to 0.9862 Swiss franc from 0.9851 Swiss franc, and it rallied to 1.3018 Canadian dollars from 1.2987 Canadian dollars.


(www.chinaview.cn 2018-06-13)
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