The U.S. dollar index climbed 0.68% to reach 102.90, marking its strongest level since April 2025. This broad appreciation pressured rivals, sending the euro to a low of $1.11 and the Japanese yen to 159.84. In response to recent economic indicators, major brokerages including Goldman Sachs and Deutsche Bank have updated their outlooks to project multiple upcoming interest rate hikes. Meanwhile, cryptocurrency assets also registered moderate increases alongside the foreign exchange movements.
Key points
Growing conviction around imminent Federal Reserve policy tightening is significantly bol…: Growing conviction around imminent Federal Reserve policy tightening is significantly bolstering the greenback against global peers.
Safe-haven demand stemming from the conflict involving the U.S., Israel, and Iran continu…: Safe-haven demand stemming from the conflict involving the U.S., Israel, and Iran continues to support dollar strength.
Hawkish commentary from central bank officials Christopher Waller and Lorie Logan has rei…: Hawkish commentary from central bank officials Christopher Waller and Lorie Logan has reinforced market expectations for additional rate increases.
Sources checked by our analysis pipeline: 1
(Updates headline and prices throughout)
* Euro hits lowest since May 2025
* Dollar hits highest against Swiss franc since mid-October
* Dollar index hits highest since April 2025
* Traders fully price in December Fed rate hike
By Chibuike Oguh
NEW YORK, Nov 11 (Reuters) - The dollar strengthened against major currencies on Wednesday, buoyed by growing expectations that the Federal Reserve will raise interest rates after hot US inflation data and hawkish remarks from policymakers.
Traders have boosted bets on a 25-basis-point Federal Reserve rate hike in December to 87% from about 70% a month ago, according to CME's FedWatch Tool, after US consumer prices rose more than expected in October for a third consecutive month.
The rise in rate expectations is helping support the dollar, said Elias Haddad, global head of markets strategy at Brown Brothers Harriman & Co.
The dollar rose 0.69% to 159.84 against the Japanese yen , hitting its strongest in over two months and nearing the psychologically important 160-per-dollar mark.
The euro dropped 0.65% to $1.11, extending losses from the prior session and…
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