Dollar Extends Gains, Rises To Near 5-month High
(RTTNews) - The U.S. dollar climbed higher on Tuesday, extending its dominance against his major counterparts, amid bets rate cuts will not be any aggressive next year as prices may move higher under Donald Trump administration due to proposed increase in tariffs.
Investors await key U.S. inflation readings, reports on retail sales and industrial production, and FOMC member commentary for additional clues to the Fed's rate trajectory.
The dollar index, which climbed to a near five-month high at 106.18, was at 105.92 a little while ago, gaining about 0.35%.
Against the Euro, the dollar firmed to 1.0627 from 1.0656, and strengthened to 1.2749 against Pound Sterling from 1.2868.
The dollar climbed against the Japanese currency, fetching 154.65 yen a unit, up from Monday's closing value of 154.65 yen. Against the Aussie, the dollar firmed to 0.6534 from 0.6574.
The dollar gained marginally against Swiss franc at CHF 0.8820. Against the Loonie, the dollar advanced to C$ 1.3945 from C$ 1.3925.
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