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Dollar gains as Yellen says Fed is ready to hike in 2015

Dollar finished the week at or near record highs against the Brazilian real, Mexican peso, Turkish lira

Federal Reserve Chairwoman Janet Yellen

The dollar posted a weekly gain against both its developed and emerging-market rivals Friday after Federal Reserve Chairwoman Janet Yellen said the central bank would likely raise interest rates in 2015.

The ICE U.S. Dollar index DXY, +0.00% a measure of the dollar’s strength against a basket of six rival currencies, rose 1.1% this week to 96.1770.

Speaking at the University of Massachusetts-Amherst Thursday evening, Yellen said most members of the Fed’s interest rate-setting committee, including herself, believe economic conditions will warrant a rate hike by year’s end.