Dollar climbs to 19-month high as Fed hike odds rise, yen near 160
According to CNA, the U. S. dollar rose to a 19-month high on 12 November, trading around $1. 1216 and pushing the yen toward the 160-per-dollar threshold as markets priced an about 80% chance of a December Federal Reserve rate hike. The yen slipped toward the 160-per-dollar level. Earlier in the week, the dollar had been buoyed by strong U.
S. jobs data and a flattening yield curve after Federal Reserve officials signaled possible further hikes, while the euro fell to near 1. 12 per dollar amid Middle-East tensions and fluctuating U. S. yields. Analysts noted that upcoming October CPI data could shape expectations for a December rate increase, with markets pricing an 80% probability of a 25-basis-point hike.