Dollar Climbs to 16-Month Peak on Expected Fed Rate Hikes
The dollar reached a 16-month high against a basket of currencies as expectations of further interest rate increases by the Federal Reserve continue to support its strength. Minneapolis Fed President Neel Kashkari noted on Wednesday that price pressures remained elevated.
The dollar rose to a 16-month high against a basket of currencies on Thursday, extending gains as markets kept betting on further Federal Reserve interest-rate increases. Minneapolis Federal Reserve President Neel Kashkari said on Wednesday that price pressures remained elevated.