Dollar Climbs From Three-Month Low as Fed Rate-Hike Odds Rise
- Hawkish Dudley comments made ‘huge difference’: Deutsche Bank
- Rate-hike odds rise above 50% as traders await Fed minutes
FOMC Minutes Show Battle Over Rates Raging in Fed
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The dollar rebounded from a more than three-month low after Federal Reserve officials suggested markets are underestimating the likelihood of higher U.S. interest rates.
The Bloomberg Dollar Spot Index halted a three-day slide as the probability of the U.S. boosting rates by December climbed beyond 50 percent. New York Fed President William Dudley and Atlanta Fed President Dennis Lockhart indicated policy makers might lift borrowing costs as soon as next month. The U.S. currency pared gains after minutes from the Federal Open Market Committee’s July meeting were released.