Dollar Hits Two-Month High as Fed Hikes Loom

The US dollar has reached its highest level in two months, fueled by expectations of additional interest rate hikes from the Federal Reserve. This move is a direct result of strong economic data and a hawkish shift in the Fed's rhetoric.

The Swiss Franc fell against both the euro and the dollar after the Swiss National Bank left rates unchanged and reiterated its willingness to be active in the foreign exchange market, though it tempered its tone slightly.

The Norwegian crown rose after the central bank raised its policy interest rate by 25 basis points to 4.50 per cent and signaled a possible future hike.