The dollar continued to rise on Tuesday after declining against the British pound and the euro the previous day, returning to its first monthly gain since September.<\/p>\n\n\n\n
The dollar’s rally has gained momentum in the past few weeks as upbeat economic data heightened expectations that the Federal Reserve will be forced to raise interest rates more than initially anticipated.<\/p>\n\n\n\n
The dollar index, which measures the value of the greenback against a basket of other currencies, settled at 104.64 points but was on track for gains in February of 2.6 percent, its first monthly increase since September.<\/p>\n\n\n\n
Investors now expect the federal funds rate to peak above 5.4 percent by September, compared with a peak expected at the beginning of the month of about 4.70 percent.<\/p>\n\n\n\n
US Treasury yields also rose, with the two-year inflation-sensitive bond returning to its highest level in three and a half months.<\/p>\n\n\n\n
On Tuesday, the dollar rose against the yen by 0.44 percent, to 136.84 points, its highest level in more than two months.<\/p>\n\n\n\n
The yen also recorded its lowest levels in two months against the euro and the pound sterling.<\/p>\n\n\n\n
And the British pound continued its gains from the previous session against the dollar, rising 0.2 percent to 1.2082 points.<\/p>\n\n\n\n
The pound rose 1 percent on Monday after Britain and the European Union announced that they had struck a new deal on trade arrangements with Northern Ireland after Britain leaves the European Union.<\/p>\n\n\n\n
The euro settled at 1.0611 against the dollar, after rising 0.6 percent in the previous session, affected by that news.<\/p>\n","protected":false},"excerpt":{"rendered":"
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