The dollar jumped to its highest level in over a month.
The US dollar index was up by 0.7% at 93.57 at 8:59 a.m. ET on Wednesday morning, its highest level since August 23.
The index’s climb follows Fed Chair Janet Yellen’s comments Tuesday in Cleveland.
“It would be imprudent to keep monetary policy on hold until inflation is back to 2%,” she said, adding that the Fed “should also be way or moving too gradually.”
