Dollar revives from its losses as US data supports rate hike The dollar continued its rise up today. The fresh rise comes as there was an increase in U.S. existing home sales for the month of October. This positive data raised hopes that there could be Federal Reserve interest rate hike by this December. So far traders are heavily anticipating this next interest rates by the end of the year. With encouraging US data so far, this is becoming very possible. On Monday, the dollar sold off on a slight note with investors trying to make the best of the holiday-shortened week so as to square positions, booking gains on the U.S. dollars which has been enjoying almost two weeks of continuous gains. Within this interval, the dollar index has increased by almost 5% on hopes that Donald Trump who is the victorious U.S. President-elect, would increase fiscal spending. This would in turn move up inflation increasing interest rates. Data on Tuesday has revealed that the U.S. home resales increased by 2% last month by an annual rate of 5.6 million units. This is the most improvement it has recorded in over than 9-1/2 years. This has pushed up the dollar to session highs against the Japanese yen.