NEW YORK, Feb 18 (Reuters) - The dollar rallied on Thursday in New York after the U.S. Federal Reserve said it was raising the interest rate it charges banks for emergency loans, citing improvement in financial market conditions.
The Fed said the discount rate would be increased to 0.75 percent from 0.50 percent, effective Friday.
As the Feb. 19 global trading session opened with the news, the euro was last at $1.3578 compared with $1.3615 before the announcement. Against the yen, the dollar last traded at 91.47 yen compared with 91.20 before the announcement. (Reporting by Nick Olivari and Gertude Chavez-Dreyfuss; Editing by Leslie Adler)