US$ up as Fed policymaker bets on December rate increase

London

THE dollar advanced against most of its major peers as a Federal Reserve policymaker reiterated that interest rates will be increased this year if economic reports continue to be encouraging, just before growth data this week that economists predict will be revised higher.

The greenback rose to a seven-month high against the euro as San Francisco Fed president John Williams said on Nov 21 there is a "strong case" for a rate increase in December if US data hold up.