On Thursday, the evergreen buck hovered close to a seven-week peak on evident signs given by Fed officials that the US major bank is seriously considering increasing interest rates this month.
On Wednesday, Federal Reserve Governor Lael Brainard told that an improving global economy as well as a solid American recovery mean it’s going to be appropriate soon for the Fed to lift interest rates.
The dollar index, normally estimating the US currency against a basket of six crucial counterparts, moderately surged, hitting 101.91. On Wednesday, the index soared to 101.97, its highest since January 11.
On Tuesday, two well-known Fed policymakers, William Dudley and John Williams, encouraged greenback bulls with comments that rate-setters are really concerned over waiting too long in the face of pending economic stimulus from the Fed.
Futures traders are currently pricing in a 66% probability of a Fed lift in March, which is up from 35% on Wednesday.
