Dollar index rises to 14-year high

The dollar climbed to a near 14-year high against a basket of currencies Wednesday, even as analysts cautioned it is vulnerable to a letdown from its surge tied to bets on pro-growth policies under U.S. President-elect Donald Trump.

It has risen 3.5 percent over eight days, which would be the biggest such increase since May 2015 .

While traders have increased their expectations on the Federal Reserve raising interest rates at its Dec. 13-14 policy meeting, the dollar rally may cause Fed policymakers to reconsider such a move due to its repercussions on U.S. exports, analysts said.

The dollar gained 0.3 percent to 109.48 yen after rising to 109.75 yen, its highest since June 1 .

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