Economic news

Review: Dollar rises on U.S. tax cut progress

The greenback jumped to a two-week high on Monday as investors assessed the passage of a Senate tax bill over the weekend, a move that increases the risk of more aggressive rate hikes in the U.S.

The dollar soared 0.7 percent to 112.98 yen, its top since Nov. 17.

The dollar index .DXY rose 0.3 percent versus major currencies.

The euro lost 0.3 percent to $1.1866.

Sterling slipped 0.2 percent to $1.3451.

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