Dollar rises after Yellen comments keep rate hikes in play

The dollar rose on Wednesday, climbing from nearly four-month lows against a basket of major currencies, after prepared remarks from Federal Reserve Chair Janet Yellen suggested that the U.S. central bank had not taken a March interest rate increase off the table. The dollar rose to a session high against the euro and pared earlier losses against the Japanese yen following the comments. "Ms. Yellen seems to be maintaining her faith in the outlook of the U.S. economy and still anticipates to rais