Dollar near one-month high as yen edges toward 160

GreyOak summary

The US dollar index rose 0.63% to 102.85, reaching its highest level since October 14. This move was supported by growing expectations of a Federal Reserve rate hike following stronger-than-expected October inflation data and hawkish remarks from officials. Traders are now betting on further tightening, with some expecting a 50-basis-point increase early next year.