the dollar ticked higher tuesday as investors continue to bet u.s. interest-rates will rise in december. the wsj dollar index, which measures the u.s. currency against 15 others, rose 0.1% to 91.29. before falling monday, the index had notched 10 straight gains, its longest winning streak since may 2012. the greenback<u+2019>s surge has been driven by expectations president-elect donald trump <u+2019>s plans to boost fiscal spending and cut taxes will support u.s. growth. meanwhile, investors continue to grow more confident the federal reserve will raise interest rates in december, a move expected to support the dollar by making the currency more attractive to yield-seeking investors. fed-funds futures, a popular tool for traders to bet on u.s. interest rate policy, show a 94% probability the fed lifts rates at its december meeting, according to data from cme group . data released tuesday showed homebuying activity rose in october for the second straight month to a new cyclical high, a sign the housing market is stabilizing as the year comes to a close. despite the optimistic outlook for the u.s. economy, analysts say investors are taking advantage of quiet trading surrounding the thanksgiving holiday thursday to take profits on the dollar<u+2019>s swift rally. <u+201c>with trading volumes likely to dry up around the middle of this week, many investors seem content to take some cash off of the table following a strong run higher in the greenback,<u+201d> said omer esiner, chief market analyst at commonwealth foreign exchange. the british pound fell 0.6% to $1.2421. the pound had rallied over 1% monday after prime minister theresa may sought to ease concerns about how brexit will impact business. write to chelsey dulaney at chelsey.dulaney@wsj.com
dollar higher as investors look for rate increase    - wsj
chelsey dulaney