World Economy

Dollar at 14-Month High

Dollar at 14-Month HighDollar at 14-Month High

 The US dollar jumped to a 14-month high against the euro as investors bet the Federal Reserve would hike interest rates earlier than expected, a view that helped knock down bond prices and weighed on global equity markets, Reuters reported Wednesday.

Benchmark US Treasuries yields rose to their highest in over a month and European shares slipped for a third straight session as companies that trade dollar-denominated commodities such as oil took a hit. The greenback rose to a six-year high of 106.39 yen, and last traded at 106.22 yen, up 0.19 percent.