Dollar Turns Higher After WSJ Publishes Comments From Fed's Lockhart

By Joseph AdinolfiMarketWatch Pulse

The dollar turned higher against its main rivals Tuesday after The Wall Street Journal published remarks from an exclusive interview with Dennis Lockhart, the president of the Federal Reserve Bank of Atlanta. In the interview, Lockhart said it would take "a significant deterioration in the economic picture" to persuade the Fed not to raise rates at its September meeting. The dollar strengthened to 124.17 yen, from 123.90 yen shortly before the interview was published. The euro fell to $1.0915, from $1.0950 before. The pound weakened to $1.5577, from $1.5630. The comments are significant because Lockhart is widely considered a centrist among Fed officials who "moves with the central bank's consensus," according to a story by WSJ's Jon Hilsenrath.

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