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Dollar Near Highest Since March as Fed Rate-Increase Wagers Rise

  • Greenback falls from day’s high after consumer-confidence drop
  • Chances for Fed rate increase by December reach 74 percent
A 50 subject one dollar note sheet is inspected after being printed with an intaglio printing press at the U.S. Bureau of Engraving and Printing in Washington, D.C., U.S., on Tuesday, April 14, 2015.

A 50 subject one dollar note sheet is inspected after being printed with an intaglio printing press at the U.S. Bureau of Engraving and Printing in Washington, D.C., U.S., on Tuesday, April 14, 2015.

Photographer: Andrew Harrer/Bloomberg
Updated on

The dollar reached a seven-month high as traders ratcheted up bets on a Federal Reserve interest-rate increase by year-end.

The greenback appreciated against about half of its major counterparts, leaving it on track for an October gain. The probability of a Fed interest-rate increase by December rose to 73 percent, the highest since June, futures data compiled by Bloomberg show.