Dollar rises on US interest rate hike optimism - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Dollar rises on US interest rate hike optimism - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.
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The dollar edged higher against a basket of currencies on Monday as recent employment data prompted some Wall Street banks to raise their estimates for how quickly the Federal Reserve will raise interest rates this year.

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The index remains close to the 16-month high it touched late in November.

“With the unemployment rate below 4%, the Fed could probably declare their job on employment ‘completed’ which does indeed set us up for an even faster period of taper potentially,”Bechtel said. Rising Treasury yields – the benchmark US 10-year Treasury yield rose to its highest level in almost two years on Monday -also supported the greenback.

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