US$ scales 9-month peak on Fed taper outlook, Delta variant

The dollar index, which measures its performance against six currencies, hit 93.587, its highest since early November of last year. It was last up 0.3% at 93.359. A decline in debt purchases by the Fed is widely considered positive for the dollar as it is expected to raise U.S. government bond yields, making it more attractive for investors to hold dollar-denominated assets.

NEW YORK: The U.S. dollar rose to a nine-month high on Thursday, as worries about widespread coronavirus infections and Federal Reserve meeting minutes showing it was considering reducing pandemic-era stimulus this year hit global stocks and commodity-linked currencies.

The dollar index, which measures its performance against six currencies, hit 93.587, its highest since early November of last year. It was last up 0.3% at 93.359. A decline in debt purchases by the Fed is widely considered positive for the dollar as it is expected to raise U.S. government bond yields, making it more attractive for investors to hold dollar-denominated assets.