[Dollar Rises to Highest Level Since May 2025 as Fed Rate Hike Bets Heat Up] The dollar rose to an 18-month high, extending its strong gains over the past two months, as traders prepared for the Federal Reserve to resume rate hikes next month. The dollar index rose as much as 0.4% on Wednesday, hitting its highest level since May 2025, and the dollar strengthened against all major currencies. The dollar's gains were further boosted on Tuesday when hawkish comments from Fed officials and data showing that consumer prices rose more than expected for the third consecutive month prompted traders to price in a low-probability 50-basis-point rate hike in December, pushing short-term Treasury yields higher. (Cailian Press)