The dollar was near its strongest level in 6 1/2 weeks against major peers before a speech from Janet Yellen that may clarify whether the Federal Reserve chair favors an interest rate increase this year.

The Bloomberg Spot Dollar Index has climbed 1.3 percent in the past three sessions as central bank officials including Atlanta Fed President Dennis Lockhart argued that a tighter policy rate is still warranted this year. New Zealand’s dollar gained against Australia’s for a third day as Fonterra Cooperative Group Ltd., the world’s largest dairy exporter, raised its forecast milk payout to the nation’s farmers.

The Bloomberg Dollar Spot Index was at 1,217.18 as of 10:48 a.m. in Tokyo from 1,217.01 in New York, where it completed four days of gains. The gauge touched 1,217.89 on Wednesday, the most since Aug 7.

Source : Bloomberg