Dollar strength continues after Yellen comments, stocks dip

The dollar extended gains on Wednesday and stocks dipped on Wall Street, as Federal Reserve Chair Janet Yellen signaled a readiness to hike interest rates and investors took in U.S. data that indicated a strengthening labor market. Yellen said she was "looking forward" to a U.S. interest rate hike that will be seen as a testament to the economy's recovery from recession. "There could be events I suppose, terrorism or otherwise, that could make you postpone, but I think the certainly of (a rate h