Dollar sweeps to 14-month high

A robust dollar swept to a 14-month high on Tuesday as investors tweaked bets on an early hike in US interest rates, burdening oil, gold and stocks in the energy majors. As the dollar broke to a six-year peak on the yen and a 14-month top against the euro, gold sagged to a three-month trough and Brent oil settled below the $100 a barrel mark. Giving the dollar bulls encouragement was research from San Francisco Fed economists that showed investors are pricing in a lower trajectory for interest rates rises than members of the Fed itself are. The dollar index .DXY, which benchmarks the greenback against six other major currencies, was up 0.25 per cent, having climbed to a 14-month high of 84.519. A break above 84.753 would take it to highs not seen since July 2010, according to Reuters.