The dollar approached a two-month high on Wednesday as fiscal and economic concerns from Asia to Europe weighed on the currencies of its Group-of-10 peers.
The Bloomberg Dollar Spot Index advanced as much as 0.3%, before paring gains, to come within striking distance of its highest since early August. The move was helped by hedge fundsBloomberg Terminal buying more bearish euro and yen option bets, and real money demand for long-dollar exposure, according to traders in Asia and Europe.