The dollar hit a 10-month high on Wednesday, pushing the euro to an almost nine-month low and keeping the yen in intervention territory, as investors bet that the United States economy will fair better with higher interest rates than competitors.
U.S. Treasuries stabilized after their recent heavy selloff, though yields remained near 16-year peaks, keeping the greenback solidly bid.
Still strong U.S. economic data has defied investor expectations for a slowdown and the Federal Reserve last week warned that it could raise interest rates again and is likely to hold rates higher for longer.
Source: CNBC
