Dollar Hits 19-Month High on Fed Rate Hike Bets
The dollar climbed to a 19-month high against major peers as traders increased bets on further Federal Reserve rate hikes following strong inflation data. Meanwhile, the Japanese yen wobbled amid dovish central bank comments and warnings over currency volatility.
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The dollar climbed to a 19-month peak against major peers on Thursday morning as traders priced in further Federal Reserve interest rate hikes. The rally pushed the greenback index up 0.11% to 102.98, its highest level since April 2025. Markets reacted to stronger-than-expected inflation data and rising rate expectations across United States financial institutions.
