Dollar Rises to 12-Year High Amid European Bond-Buying, Fed Bets
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The dollar surged to the strongest level in almost 12 years as the specter of higher U.S. interest rates and the European Central Bank’s acceleration of its bond-buying program cascaded through global financial markets.
The U.S. currency rallied against 14 of its 16 major peers as national central banks in the euro region were said to have purchased sovereign debt for a second day in their quantitative-easing program. The dollar touched the highest in 7 1/2 years versus the yen and rose to a record against the Mexican peso.