Dollar Runs Win Streak To 10 Weeks On Lingering Rate Hike Chatter

September 19, 2014

Washington  (Sept 19)   Another day of gains took the dollar to its highest in more than a year versus the euro, with traders betting that the Federal Reserve is about to lay the ground work for rate hates sooner than expected.

The central bank kept its monetary policy unchanged on Wednesday, but there were hints in the Fed's accompanying statement indicating that interest rates will normalize ahead of schedule.

The dollar rose for a tenth consecutive week, helped by concerns about the outlook for economic growth in  Europe  and elsewhere.

However,  Scotland's  vote to remain with the  UK  propped up the sterling as well.

55% of Scottish voters rejected the independence referendum and 45% favored it, a larger final margin than most observers were anticipating.

The dollar slipped to  USD1.63  versus the pound, moving further from a 10-month peak of  USD1.605  from earlier in September.

Steady gains took the buck to  USD1.2840  versus the euro, its highest since the summer of 2013.

The dollar also extended its recent surge versus the yen, jumping above  Y109  to its highest in more than 6 years.

Sporce: RTTnews

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