U.S. dollar rallies on China data

The U.S. dollar surged against other major currencies on Wednesday as strong China's trade data raised market expectation for a rate hike by the U.S. Federal Reserve in the near future.

In late New York trading, the euro fell to 1.1283 dollars from 1.1388 dollars in the previous session, while the dollar bought 109.29 Japanese yen, higher than 108.60 in the previous session. Endit