Dollar Hits One-Month High on Fed Hike Expectations

The US dollar has reached a one-month high as traders weigh the possibility of a rate hike by the Federal Reserve.

Despite falling oil prices easing inflation concerns, expectations for a rate hike have increased to 37.9 percent, according to CME FedWatch.

Markets are pricing in an 81 percent chance of a rate hike at the central bank's September meeting.

The dollar index eased 0.07 percent to 101.45, with the euro up 0.09 percent at $1.1377 against the greenback.