Dollar firm as markets brace for another big Fed rate hike

Published by
Reuters UK

By Kevin Buckland TOKYO (Reuters) – The dollar remained firm below a two-decade high versus major peers on Tuesday, as investors braced for the Federal Reserve to continue its aggressive interest-rate-hiking campaign to rein in overheated inflation. The dollar index, which measures the greenback against six counterparts, was little changed at 109.53, stable for the moment after pulling back from as high as 110.79 earlier this month, a level not seen since June 2002. The two-year U.S. Treasury yield, which is extremely sensitive to policy expectations, rose as high as 3.970% overnight for the f…

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