the dollar rose for a ninth consecutive session on thursday, as investors digested economic data and comments by federal reserve officials. the wsj dollar index, which measures the u.s. currency against 16 others, rose 0.7% to 91.21, its highest closing level since february. the dollar rose 0.6% against the euro and 1% against the japanese yen. after a dramatic rally driven by the u.s. presidential election, investors refocused their attention thursday on the outlook for u.s. interest rates. federal reserve chairwoman janet yellen reiterated that an increase in short-term interest rates <u+201c>could well become appropriate relatively soon.<u+201d> meanwhile, data showed u.s. consumer prices increased in october from a year earlier at the fastest rate in two years. the fed has been watching for signs that inflation is firming as it considers raising interest rates. fed-funds futures, a popular tool for traders to bet on u.s. interest rate policy, shows a 91% probability that the fed lifts rates at its meeting next month, according to data from cme group . higher rates typically boost the dollar by making the currency more attractive to yield-seeking investors. the dollar is also being boosted by expectations that president-elect donald trump <u+2019>s plans to ramp up fiscal spending and cut taxes will spur economic growth in the u.s. corrections & amplifications: the dollar edged higher for a ninth consecutive session thursday. an earlier version of this article incorrectly stated the day as wednesday. write to chelsey dulaney at chelsey.dulaney@wsj.com
dollar rises again after inflation data, yellen comments - wsj
chelsey dulaney