Dollar rises on Fed expectations, Omicron worries ease

Published by
Reuters UK

By John McCrank NEW YORK (Reuters) -The dollar rose on Tuesday on expectations the Federal Reserve could raise interest rates as early as March to counter rising inflation, while a global rally in stock markets knocked the safe-haven Japanese yen to a one-month low. The dollar index, which measures the currency against six major rivals, was 0.217% higher at 96.261. The greenback had been trading lower in the overnight session as riskier currencies rallied, but it strengthened after 9 a.m. Eastern time when data showed U.S. home prices rose 1.1% in October from September and were up 17.4% year-…

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