Dollar gained on Monday to the highest level in 16 months, as investors are expecting US Fed to raise interest rates next month, Reuters writes. At the same time concerns about political risks in Europe put pressure on euro and pound.

Dollar started to grow last week after US Fed confirmed its intentions to gradually increase borrowing costs, which is supported by stable growth of the US economy. On Monday US currency continued its rise amid growing risks in regards to Brexit and Italy’s budget. As a result, euro fell by another 0,7% to the lowest level to dollar since 2017 $1,124.

Experts assume that pressure on European single currency will increase by the end of the year, and this will support the dollar.

British pound lost 1% today and fell to $1,2841 amid doubts that the country’s Prime Minister will be able to find support in EU.

Japanese yen fell by 0,3% today and its rate is 114,12 per dollar, the lowest since October 4th. Such situation is a result of different approach to monetary policy by the US Fed and Bank of Japan.

Australian dollar by 0,4% to $0,7194.