The dollar rose against the euro and the yen on Wednesday after the Federal Reserve signaled that U.S. short-term interest rates could rise in the coming months. The Federal Open Market Committee painted a strong picture of the U.S. labor market at the conclusion of its two-day policy-setting meeting. The Fed said job gains have been solid, noted how unemployment had declined and upgraded its assessment of the slack in the job market. Consequently, the dollar increased versus the common currency, as one euro bought $1.1029, from $1.1044 ahead of the Fed’s statement, leaving the buck 0.3% higher for the session. The dollar edged higher against the yen to ¥123.78 from ¥123.75 beforehand, now trading 0.2% up on the day. Even though the Fed did not send a clear signal for timing on a rate increase, keeping a September timeline open for the Fed’s first interest-rate increase in more […]