Dollar posts strongest month versus euro in 14 months

The dollar surged near its highest level of the year against the euro on Wednesday, on track for its biggest monthly gain in 14 months, driven by stronger US growth and rising interest-rate expectations. The euro has been among the worst-performing major currencies this year, pressured by Europe's energy and debt worries. The dollar gained nearly 2.2% against the euro in September, while Federal Reserve rate hike expectations have outpaced European Central Bank policy. Some hawkish Fed pricing eased after New York Fed President John Williams said there was "no need for urgency" in raising rates. Sterling rose on stronger UK growth data, while the dollar fell 1.6% against the yen in September.