Fed rate-hike speculation lifts U.S. dollar to three-month high

“The dollar reached its highest in nearly three months against a basket of currencies on Monday on a rise in U.S. bond yields as traders built bets the Federal Reserve would raise interest rates later this year.  A plummet in gold prices to five-year lows under $1,100 an ounce also increased the appeal of the greenback, the world’s reserve currency.  Last week, U.S. Fed Chair Janet Yellen testified before Congress, reiterating U.S. interest rates will go up later this year if the economy continues to expand.  St. Louis Fed chief James Bullard told Fox Business network on Monday there was a higher than 50 percent chance the U.S. central bank will raise rates in September.”

 

http://www.reuters.com/article/2015/07/20/us-markets-forex-idUSKCN0PU01920150720

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