Dollar Holds Sway Over Market While Crude Extends Selloff

From bloomberg.com

The dollar maintained its rally, trading near a 12-year high versus the euro as investors considered the timeline for higher U.S. interest rates ahead of this week’s Federal Reserve meeting. Crude oil extended its slump. The greenback was at $1.0498 per euro by 8:16 a.m. in Tokyo, after reaching its strongest level since January 2003. The dollar held weekly gains of at least 0.4 percent versus the currencies of Australia and New Zealand. Standard & Poor’s 500 Index futures slipped 0.1 percent following a 0.6 percent drop in the U.S. gauge Friday, while Australian shares retreated and Japanese futures were ... (full story)