Dollar Increases Gains, Rising to Highest Level in 5 Months

WASHINGTON (dpa-AFX) – The US dollar rose on Tuesday, extending its dominance over major rivals, amid bets that interest rate cuts will not be aggressive next year as prices could rise further under Donald Trump due to proposed tariff hikes.

Investors are awaiting key U.S. inflation data, reports on retail sales and industrial production, and comments from FOMC members for additional clues about the Fed’s interest rate path.

The dollar index, which climbed to 106.18, its highest level in nearly five months, was recently at 105.92, with a gain of about 0.35%.

The dollar strengthened against the euro from 1.0656 to 1.0627, and against the pound sterling from 1.2868 to 1.2749.

The dollar rose against the Japanese currency, rising to 154.65 yen per unit from Monday’s closing value of 154.65 yen. Against the Aussie, the dollar rose from 0.6574 to 0.6534.

The dollar rose marginally against the Swiss franc, reaching CHF 0.8820. Against the Loonie, the dollar rose from 1.3925 Canadian dollars to 1.3945 Canadian dollars.

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