LONDON, March 29: The dollar continued to trade within a tight range against the euro on Wednesday, only slightly above the previous days’ levels after the US Federal Reserve hiked interest rates to 4.75 per cent and indicated that further tightening might be needed.

The euro edged up to $1.2013 in late European trading, from $1.2000 late on Tuesday in New York.

The dollar stood at 117.92 yen, from 117.92 on Tuesday.

Suggestions of a further increase by the Fed caused interest rate markets to price in a further quarter point hike in the Fed Funds rate to 5.00 per cent, with many feeling that rates could rise beyond that.

On the London Bullion Market, the price of an ounce of gold rose to $565 per ounce, from $567.50 dollars on Tuesday.—AFP