LONDON—The dollar rose to a two-week high on Monday against a basket of currencies, lifted by the tension between Russia and the West over Ukraine and the possibility of a more hawkish stance from the Federal Reserve this week.
Markets were until recently not fretting about the massing of Russian troops on Ukraine’s borders, but tensions have ratcheted up several notches of late, with U.S. President Joe Biden considering boosting military assets in Eastern Europe and ordering diplomats’ families to leave Kyiv.
