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Dollar soars and Wall Street gains as ECB holds off on rate hikes

Reuters  |  NEW YORK 

By Nick BrownNEW YORK (Reuters) - The U.S. dollar rose more than a penny against a basket of major currencies as the euro cratered, and U.S. stocks closed higher on Thursday, as the European Central Bank signalled interest rate hikes were a long way off.The bank's unexpectedly dovish decision overshadowed its statement that it aimed to wrap up its crisis-era stimulus programm at the end of this year.The ECB now plans to reduce monthly asset purchases between October and December to 15 billion euros until the end of 2018 and then conclude the programme.Investors, though, seized on comments ...

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First Published: Fri, June 15 2018. 02:33 IST
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