Urgent: U.S. dollar rallies on Fed rate hike

The U.S. dollar surged against other major currencies Thursday as the Federal Reserve decided Wednesday to raise interest rate for the first time in nine years, while central banks in Japan and Europe were expected to unleash further stimulus.

In late New York trading, the euro fell to 1.0811 dollars from 1.0968 dollars in the previous session, while the dollar bought 122.82 Japanese yen, higher than 121.89 yen of the previous session. Endit