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Dollar at 19-month peak
The dollar rose on Thursday to its highest level in 19 months, as bets on a Federal Reserve rate hike increased after October inflation came in above expectations. U.S. officials also left the door open to a possible 50-basis-point increase. The dollar index gained 0.15% to 103.02, while the dollar traded at 159.83 yen, nearing the 160-yen mark as the Japanese currency weakened following remarks by a Bank of Japan official who opposed a near-term rate hike. Analysts expected Japan to raise interest rates next month, as wholesale price inflation accelerated to 7.1% in October from 6.8% in September.
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