Dollar hits 13-month peak
The dollar continued to gain ground, reaching its highest level in 13 months against a group of major currencies amid investor anticipation of a U.S. interest rate hike. The decline in technology and semiconductor stocks increased demand for the dollar and bonds as safe havens, with expectations growing for an interest rate increase at the Federal Reserve's upcoming meeting. The dollar index rose to 101.69 points. Additionally, the euro hit its lowest level in over a year at 1.134 dollars, while other currencies like the British pound and Japanese yen declined, as pressures on the Japanese currency continued due to expectations of a rate hike in Japan.
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