Dollar index climbs to 101.71, a 13-month high, as rate-hike bets and tech selloff lift demand
The dollar index (DXY) rose to 101.71, its highest level in 13 months. Markets lifted the implied probability of a Federal Reserve rate hike in July to 35% from 9% a week earlier, while September pricing moved above 70%. Selling pressure in technology stocks and a stalemate in U.S.-Iran talks added to safe-haven demand. The euro, sterling, Australian dollar and yen all weakened, with the yen sliding to 161.66, close to its lowest level since 1986.