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Dollar hits 2-month high on rate hike bets

The US dollar reached a two-month peak as Treasury yields climbed and investors anticipated further Federal Reserve interest rate hikes. Hawkish official remarks and strong economic data fueled the currency's advance.

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FILE PHOTO: U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

The dollar index rose 0.15% to 101.28 on Thursday afternoon, hitting a two-month high amid mounting inflation pressures and rising expectations for further Federal Reserve interest rate hikes.
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