Dollar Hovers Near 7-Week High as US Rate Expectations Rise

U.S. dollar, euro, and Ukrainian hryvnia banknotes are seen in this picture illustration taken in Kyiv, Ukraine, on Oct. 31, 2016. Valentyn Ogirenko/Reuters

SINGAPORE/LONDON—The dollar wavered near a seven-week high on Monday, as investors took stock of last week’s strong economic data and rapid reconsideration of where interest rates will peak.

Data on Friday showed U.S. consumer spending rebounded sharply in January, while inflation accelerated.