Dollar holds peak as Fed rate hike expectations mount
The U.S. dollar remained near a two-month peak as markets priced in an 83% chance of a December rate hike following a hawkish policy review. Meanwhile, the Japanese yen weakened toward the 160 level as geopolitical tensions in the Gulf and strong retail data supported the greenback.
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The United States dollar reached a two-month high on June 18 as markets increased bets on Federal Reserve rate hikes. The dollar index held at 100.31 after surging 0.85% in the previous session, its largest daily gain since March 2. Investors are pricing in an 83% chance of a December rate hike following strong retail sales data.
