Dollar gains, euro slips after expected ECB rate increase

NEW YORK/LONDON, Sept 10 : The dollar rose against major currencies on Thursday, reversing some of this week’s losses triggered by rising oil prices and global bond yields, while the euro fell after the European Central Bank delivered an expected rate increase.

The ECB raised interest rates on Thursday for the second time this year, seeking to quell an energy-driven rise in inflation triggered by the Iran war.

The euro was down 0.28 per cent against the dollar at $1.1599. Against the Swiss franc , the dollar strengthened 0.42 per cent to 0.813.

The dollar index rose 0.34 per cent to 99.12, on track to snap three straight sessions of losses.