Dollar Rises After Fed Says It Could Raise Rates In December

The dollar strengthened Wednesday after Federal Reserve policy makers suggested they could raise interest rates at their meeting in December. The language of the Fed policy statement, released Wednesday at the close of a two-day meeting of the Fed's rate-setting committee, indicated that policy makers are less concerned about slowing growth abroad, and will instead focus on determining whether the U.S. economy is on the path toward maximum employment. the euro fell to $1.0934 after the announcement, a 1% drop from $1.1088 shortly beforehand. The dollar rose to 121.07 from 120.68. The British pound fell to $1.5266 from $1.5330.