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.

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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