Dollar close to 9-month highs for higher rate hike possibilities
Nov 9 2017, 00:00
The dollar remains close to the highs of the last nine months with increasing chances for a rate hike. The dollar index was up 0.10% at 98.74, close to the highest levels reached in early February. The greenback touched 104.50 Yen while the Euro remains below 1.09 Dollars. Charles Evans, a Fed member without voting rights, said he sees three increases possible in 2017 if the data remain positive. To support the dollar, an unexpected rise in manufacturing activity in the month of October. The Investing Fed rate control tool shows a 73.6% probability of a rate hike in December.