2018-11-12
The dollar rose to a 16-month high against its main rivals on Monday, while sterling and the euro fell due to the uncertainty surrounding Britain's exit from the European Union.
 
The US currency has received support from the Federal Reserve, which last week confirmed plans to raise interest rates next month and that it is still moving towards a possible rate hike two more times until mid-2019 thanks to the strong economy.
 
The dollar index, which tracks the performance of the greenback against six major currencies, rose more than 0.5 percent to 97.42, a level touched in June 2017. The dollar rose for four straight weeks and gained 0.4 percent last week.
 
Worries over the euro-zone split have plunged 0.7 percent to $ 1.1257, the lowest level since June 2017, and the euro's losses continue for a fourth consecutive session.
 
Against the Japanese yen, the dollar rose 0.3 percent and hit a record 114.18 yen, the lowest level since October 4.
 
Sterling fell about 1 percent to a 10-day low against the dollar and hit $ 1.2855. Against the euro, sterling lost 0.3 percent to its lowest level in a week at 87.73 pence.