Dollar near two year-peak on China COVID fears, Fed hike bets

Published by
Reuters UK

By Alun John HONG KONG (Reuters) – The dollar held near a two-year peak on Tuesday as concerns about the economic impact of China’s COVID-19 lockdowns held up the greenback’s safe-haven appeal and aggressive U.S. interest rate hike expectations kept bond yields elevated. The dollar index, which measures the greenback against six main peers, was 0.13% lower at 101.59 after hitting a two-year peak of 101.86 overnight. It has gained 3.3% so far this month, which would be its largest month of gains since November 2015. “Further (dollar index) upside remains a good bet. China growth risks are risin…

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