Dollar Firms on Possible Fed Hike – 13 December, 2018

With the expectation of a U.S. interest rate hike approaching, the greenback found support and firmed against major currencies, and was further supported by the euro and pound being put in the spotlight on comments by the ECB president about a hard Brexit. The Fed is expected to raise interest rates by 25 basis points, its fourth hike this year. Against its peers, the dollar gained 5.3 percent this year. The yen rose to 113.48 to the dollar, with the dollar having gained 1.2 percent versus the yen in the last six trading sessions. The euro remained flat, while sterling lost 0.2 percent to $1.2627 in Asian trade. The Australian dollar dipped 0.5 percent to $0.7189, and the offshore yuan fell 0.15 percent against the dollar.