Dollar jumps after Fed pulls interest rate hikes into 2023

NEW YORK - The dollar jumped against a basket of currencies on Wednesday after the Federal Reserve brought forward its projections for the first post-pandemic interest rate hikes into 2023, citing an improved health situation and dropping a longstanding reference that the crisis was weighing on the economy.

The dollar index, which tracks the greenback against six major currencies, was up 0.41% at 90.901, its highest since May 7.