Dollar Near 19-Month Highs Thanks to Interest Rate Hike Expectations

Al-Taj News – The dollar stabilized on Friday near its highest levels in 19 months, following strong gains over the week driven by growing expectations of a larger U.S. interest rate hike, which pushed the yen to hover near the 160 level, which in turn put traders on alert for the possibility of intervention by Japanese authorities.

Treasury yields rose after U.S. President Donald Trump said that the United States does not need a deal with Iran, while traders assessed the likelihood of the Federal Reserve raising interest rates at a larger-than-usual pace next month.