Nov 12 2018

Dollar Stands Tall, Inches Closer to its 16-month High

The US dollar built on the last week’s gains and climbed higher towards as 16 months high on Monday as traders expect the U.S. Federal Reserve to keep tightening monetary policy.

The Fed has restated its plan to raise interest rates by 25 basis points in December, followed by two more potential rate jerk ups by mid-2019 on the back of a sanguine economy and rising wage pressures.