Dollar Advances as Fischer Tips Fed Balance Toward Tightening
- Probability of U.S. rate increase in 2016 rises above 50%
- Fed vice chairman sees economy close to central bank goals
Bank of Japan Shocks for Japanese Stocks
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The dollar extended a rebound from a seven-week low as traders bolstered bets on a U.S. interest-rate increase this year after Federal Reserve Vice Chairman Stanley Fischer said the economy is close to meeting the central bank’s goals.
A gauge of greenback strength rose for a second day as the U.S. currency advanced against most major currencies tracked by Bloomberg. Fischer’s comments from Sunday echoed signals from Fed officials last week indicating the central bank is poised to raise rates by year-end. That pushed the probability of a hike by December to 53 percent, futures show.