New York — The euro hit a one-year high against the dollar on Wednesday and German 10-year Bund yields continued to rise after doubling the previous day, on bets that Europe’s and Britain’s central banks are preparing to scale back economic stimulus. The dollar index slid as Bank of England Governor Mark Carney said a debate on the need to raise interest rates is due "in the coming months," adding to a hawkish tone out of the European Central Bank on Tuesday. Carney’s remarks convinced traders that European monetary policy was shifting in a more hawkish direction, analysts said. The monetary policy comments out of Europe and Britain come as the US Senate delayed a healthcare legislation vote, a move seen as pushing back the timeline for other items of President Donald Trump’s agenda including a tax overhaul regarded as essential to support lofty stock valuations on Wall Street. "Prospects for infrastructure spending and tax reform are fading by the minute" after the delayed healthca...
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