U.S. Dollar Higher on Rates Speculation

The dollar strengthened against major peers and Treasuries fell amid speculation the Federal Reserve may raise rates sooner than previously anticipated. Silver snapped five weeks of gains while European index futures were little changed with Asia’s benchmark equity gauge.

The Bloomberg Dollar Spot Index was higher for a fourth day by 7:09 a.m. in London, the longest streak since May, and the yield on 10-year Treasuries climbed one basis point. Gold dropped 0.6 percent and silver fell 1.3 percent. Nickel and copper lost at least 0.9 percent. Futures on the Euro Stoxx 50 Index were little changed while contracts on the Standard & Poor’s 500 Index retreated 0.1 percent. The MSCI Asia Pacific Index (MXAP) slipped 0.1 percent to 147.45, near a six-year high.

Goldman Sachs Group Inc. brought forward its estimate for U.S. interest-rate increases to the third quarter of 2015, saying the economy is “accelerating to an above-trend pace.” The Fed releases minutes of its last Open Market Committee meeting this week, while American markets resume today from a three-day weekend after stronger-than-forecast jobs reports on July 3. China issues inflation and trade data this week, while companies including Alcoa Inc., Fast Retailing Co. and Samsung Electronics Co. are due to report earnings.


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