The U.S. dollar rose to the highest level in more than three weeks versus a basket of peers as Federal Reserve Chair Janet Yellen addressed lawmakers for a second day on the state of the U.S. economy.
The dollar reached the strongest in a month versus the euro as wholesale prices in the U.S. rose more than forecast. New Zealand’s dollar slumped the most in seven weeks after inflation accelerated slower than expected and a gauge of dairy prices dropped to its lowest since 2012. Australia’s currency fell after the two-year note yield dropped to the lowest since September. South Korea’s won slid to the weakest since April.
The greenback gained 0.3 percent to $1.3530 per euro after reaching $1.3526, the most since June 16. The euro slid 0.3 percent to 137.59 yen. The U.S currency was little changed at 101.69 yen after touching 101.79, the strongest since July 9.