Doha:The US dollar remained strong at a two-week high on Wednesday as global financial markets awaited key policy decisions from central banks, notably the Federal Reserve. The US dollar index, which measures the currency's strength against six others, held steady at 102.40, marking its highest level since October 14. Additionally, the yield on the US 10-year Treasury bond increased by 2.2 basis points to 5.01%.

According to Qatar News Agency, most currencies were stable ahead of the Federal Reserve's decision. The euro remained unchanged at $1.1124, while the British pound saw a slight decline of 0.1% to $1.32945. The dollar traded against the yen fluctuated between gains and losses, ultimately remaining flat at 157.945 yen.

The New Zealand dollar experienced a significant drop of 1.7%, reaching an intraday low of $0.55831, after the Reserve Bank of New Zealand unexpectedly decided to maintain interest rates at 2.75%. Meanwhile, the Australian dollar increased by 0.1% to $0.70345 following the release of inflation data, which showed an increase to 1.3% in the third quarter from 0.6% in the previous quarter.

In relation to the Canadian dollar, the US dollar rose by 0.1% to C$1.4063, ahead of the Bank of Canada's interest rate announcement. The central bank is anticipated to raise its benchmark rate as a precautionary measure to prevent energy-driven inflation from impacting the broader economy.