– This is the script of CNBC's news report for China's CCTV on November 18, Friday.
Welcome to CNBC Business Daily, I'm Qian Chen.
Yellen, who testified on the economic outlook before the congressional Joint Economic Committee, indicated little had changed following the victory of Donald Trump in the Nov. 8 U.S. presidential election.
She said she intended to serve out her term, which ends in 2018, and indicated the Fed remained on track to raise rates at its meeting next month.
Expectations have been high among investors that the Fed will raise rates in December.
Also helping the dollar was upbeat U.S. economic data, which stoked expectations of an acceleration in U.S. economic expansion in the fourth quarter.
U.S. stocks, which rallied last week after Republican Donald Trump's surprise White House win on the potential for economic stimulus, also rose, led by gains in financials .
The Dow Jones industrial average .DJI closed up 35.68 points, or 0.19 percent, to 18,903.82, the S&P 500 .SPX gained 10.18 points, or 0.47 percent, to 2,187.12 and the Nasdaq Composite .IXIC added 39.39 points, or 0.74 percent, to 5,333.97.
"Janet Yellen has further cemented the argument that a rate could take place next month. For us, it is a Done Deal and the question which we are focused on is if the Fed is sensitive to Treasury yields," Naeem Aslam, chief market analyst at Think Markets, said in a note.
The U.S. dollar climbed to a 13-1/2-year high and global stock indexes rose on Thursday after comments by U.S. Federal Reserve Chair Janet Yellen bolstered the case for raising interest rates next month.
The dollar index .DXY, tracking the greenback relative to a basket of six foreign currencies, extended gains in U.S. afternoon trading following Yellen's comments, and was last up 0.5 percent.
Strength in the dollar weighed on gold, which fell to a 5-1/2-month low.
In the U.S. bond market, the yield curve steepened after the U.S. data suggested the labor market is tightening and inflation is beginning to gain traction.
U.S. consumer prices posted their biggest increase in six months in October, while housing starts surged to a 9-year high and jobless claims fell to the lowest since November 1973.
Forget all that talk about Janet Yellen stepping down if Donald Trump becomes president: The Fed chair told Congress on Thursday she's not leaving.
Trump has been critical of the central bank leader and has suggested that he would replace her at some point. He once told CNBC that Yellen should be "ashamed" of her actions, saying her policies were political positions to help President Barack Obama.
CNBC Qian Chen, reporting from Singapore.