Yellen Drives Dollar Toward Strongest Week in Two Months
This article is for subscribers only.
The dollar was set for its biggest weekly advance in two months versus major peers before Dallas Federal Reserve President Richard Fisher speaks today amid prospects the central bank will pare stimulus.
The greenback reached a two-week high against the euro yesterday, the day after Fed Chair Janet Yellen said borrowing costs could start rising “around six months” following an end to the U.S. central bank’s bond buying. Fisher, who votes on policy this year, said this month that the Fed’s asset purchases are “distorting” financial markets. Australia’s dollar was set for a weekly advance after a gauge of economic surprises rose to a 10-month high.