Economy and macroUpdated November 11

Dollar index reaches its highest level since April 2025

The dollar index, which tracks the U.S. currency against six major currencies, rose 0.6% Wednesday to 102.9, its highest level since April 2025. The move came as markets raised their expectations for rate increases after October inflation beat forecasts. CME Group’s FedWatch tool put the chance of a quarter-point December hike at 87%, up from about 70% a month earlier. A quarter-point increase remained the market’s base case, while a half-point move had only slim odds. But the broad index’s rise didn’t mean the dollar gained against every currency: it strengthened 0.7% against the yen to 159.8, but slipped 0.6% against the euro to $1.11.

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Coverage started November 11