Dollar hits 18-month high on renewed Fed rate hike expectations

NEW YORK, 15th October, 2026 (WAM) -- The US dollar climbed to an 18-month high on Wednesday as renewed expectations of an interest rate increase by the Federal Reserve later this month boosted the currency. The dollar index, which measures the greenback against a basket of six major currencies, rose 0.68% to 102.86, its highest level since April 2025. The euro fell 0.69% to $1.1121, hitting a fresh 17-month low against the dollar and a 16-month low against sterling. The British pound declined 0.58% to $1.3178, while the Japanese yen weakened 0.33% to 158.81 per dollar.