The U.S. dollar continues to stand up to its fellow G-10 competitors.
Currencies & Interest Rates
Britain’s financial markets, as well as those in Europe, welcomed Scottish voters’ decision to stay a part of the UK on Friday.
The dollar was set to close at its highest level in four years against major counterparts following the raise by the Federal Reserve officials of their target-rate forecast.
The dollar neared a six-year high against the yen as investors considered the timing for the Federal Reserve’s first interest-rate increase since 2006.
The Canadian dollar was down near a four-month low as the nation’s largest export, crude oil, fell to its lowest level in over a year.
On Tuesday the U.S. dollar rose to its highest level in fourteen months against the euro as investors expected the Federal Reserve would increase interest rates sooner than initially forecasted.
The dollar reached a 14-month high on Tuesday against its major currencies.
The pound fell the most in more than a year against the dollar on Monday while opinion polls underscored the potential for Scotland to vote for independence next week and end its 307-year-old union with the U.K.
The U.S. dollar soared to a seven-month high against the yen, while government bonds declined and gold slipped prior to data that analysts expect to show growth in U.S. manufacturing.
As stocks declined amid growing tensions between Russia and the Ukraine, the ruble dropped to a record low.