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The Economic Times
The Economic Times
Business

Dollar hits 13-month highs as investors bank on rate hikes

The dollar headed on Thursday for its biggest monthly gain in almost a year, ​ahead of U.S. inflation data that could support ​many investors' growing belief that the Federal Reserve will need to raise rates ​at least once this year.

The dollar hit a 13-month high against the euro on Wednesday, leaving the single European currency below $1.14. It also sent the pound to seven-month lows and kept the Japanese yen around its weakest in 40 years, around 161.9.

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