Market News
Dollar hits to 2-1/2-month peak as US rates, election eyed - REUTERS
- Fed's tempered interest rate cut path boosts dollar
- U.S. Treasury yields rise amid positive economic data
- Trump's election prospects influence market expectations
NEW YORK, Oct 22 (Reuters) - The U.S. dollar rose to a fresh 2-1/2-month high on Tuesday, continuing its recent ascent on expectations the Federal Reserve will temper its interest rate cut path, while investors positioned ahead of an apparently tight U.S. presidential election.
The greenback has risen for three straight weeks and is on track for its 15th gain in 17 sessions as a run of positive economic data has diminished expectations about the size and speed of rate cuts from the Fed, which has pushed U.S. Treasury yields higher.
