(Bloomberg) -- The dollar gained versus all its major counterparts after Federal Reserve policy makers indicated they’ll probably raise interest rates by the middle of next year with the U.S. economy showing signs of strengthening.

The greenback rose the most since January versus the euro and yen as the Federal Open Market Committee discarded a jobless-rate threshold for considering when to raise borrowing costs and said it will look at a wide range of data. Policy makers also reduced monthly bond-buying by $10 billion, the third consecutive cut of that size. The Canadian dollar slid to the weakest since 2009 on bets the Fed will raise rates before the Bank of Canada does.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access