The dollar rose to almost a four-month high after the Federal Reserve moved a step closer to raising interest rates amid improvements in the labor market.

The Bloomberg Dollar Spot Index, which tracks the currency versus 10 of its major peers, rose 0.3 percent to 1,207.66 at 5 p.m. in New York. The gauge climbed to 1,212.78 on July 24, the highest level since March.

The dollar is up 7.7 percent this year among 10 developed-nation currencies tracked by Bloomberg Correlation-Weighted Indexes.

Source: Bloomberg