Dollar Rises After Fed Minutes Show Most Agree On December Hike
The dollar strengthened against its main rivals Wednesday after minutes from the Federal Reserve's October meeting showed most Fed officials are in favor of a December interest-rate hike. The euro fell to $1.0617 after the minutes were published -- its lowest level in seven months -- after trading at $1.0638 shortly before. The dollar rose to 123.76, its highest level in two-and-a-half months, from 123.48 before the report. Fed policy makers have repeatedly said they will likely raise interest rates in December, which has driven the dollar higher in recent weeks.
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