Dollar hits 13-month high as traders price in possible Fed rate hike

The U.S. dollar index has climbed to a 13-month high, supported by stronger confidence in the economic outlook and expectations the Federal Reserve could raise rates. Gold fell below $4,000 an ounce, while oil rose on concerns over war risks involving Iran. The report also cites a hawkish stance from new Fed Chair Kevin Warsh and imminent U.S. inflation data as factors behind bets on wider interest-rate differentials.