The dollar surged to a 1.5-month high as the Fed raised rates by 25 bps and signaled further hikes, pressuring gold and the euro while boosting USD/JPY.
The dollar index jumped to a 1.5-month high after the Fed raised rates and signaled another hike by year-end.
EUR/USD tumbled to a 1.5-month low as the Fed's hawkish rate hike strengthened the dollar against the euro.
USD/JPY rose as the dollar rallied after the Fed's hike, with yen pressured by weak data and government debt concerns.
Gold prices plunged in post-market trading as the dollar surged and the Fed's rate hike reduced the appeal of non-yielding assets.
WTI crude oil sank more than 3% on Wednesday, pressured by demand concerns and easing inflation expectations.
Silver settled higher initially but is expected to face downward pressure from the stronger dollar and the Fed's hawkish stance.
The US dollar index climbed 0.64% to a 1.5-month high following a 25 basis point rate hike by the FOMC. The Federal Reserve signaled additional tightening by year-end, citing resilient domestic spending and robust capital investment, while US retail sales data exceeded expectations.
The dollar rallied because the Fed raised interest rates by 25 basis points and signaled further tightening, supported by strong US retail sales and upward revisions to GDP and inflation forecasts.