Dollar resurgent as Powell gives Fed room to hike

Published by
Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – The dollar rose to multi-week highs against other major currencies on Thursday, after Federal Reserve chair Jerome Powell surprised investors by leaving the door open to larger and faster than expected interest rate hikes. The greenback hit a two-month top of $1.1220 per euro and held gains at 114.62 yen. It hit its highest in more than a year on the kiwi, a seven-week peak on the Aussie and its best since early January versus the pound. It also rose broadly against emerging market currencies as interest rate futures markets moved swiftly to all but price…

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