Dollar Rises on Fed Rate Hike Bets
The US dollar advanced against major currencies as hot inflation data and hawkish policy remarks drove traders to raise bets on a December Federal Reserve rate increase.
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The dollar climbed against major currencies during Wednesday afternoon trading after hotter inflation data fueled a surge in Federal Reserve rate hike bets. The greenback reached a two-month high against the yen and its strongest level since April 2025. Rising consumer prices for a third consecutive month drove traders to price an 87% probability of a 25-basis-point increase in December.
