Interest Rates: December Meeting and Dollar Index

interest rates: Earlier on Tuesday, a key gauge of the dollar value against six major currencies, the ICE U.S. dollar index, touched its highest level in nearly nine months, according to Market Watch. Since a recent low hit on May 3, the index is up 7.4%. The U.S. Dollar Index DXY, +0.05% was steady at 98.72 on Tuesday, but hit its highest level since February at 99.12. Although moves were mostly modest, overall, the greenback has been in an uptrend due to a growing consensus that the Federal Reserve will raise interest rates at its December meeting. However, it subsequently pulled back after European Central Bank President Mario Draghi said the central bank doesn't want rates to stay negative for a protracted period. The shared currency EURUSD, -0.0092% was at $1.0885, compared with $1.0875 late Monday in New York. Draghi comments lifted the euro. (news.financializer.com). As reported in the news.