Economics
Dollar Climbs on Signs the U.S. Is Doing Better Than the Rest of the World
- Bloomberg dollar index rises 0.5% to highest level since March
- Move comes after European consumer confidence data disappoints
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The dollar climbed Tuesday as investors snapped up American stocks and bonds, with concerns about the European economy helping to underpin appetite for the relative safety of the U.S. currency.
The Bloomberg Dollar Spot Index rose as much as 0.5 percent to the highest level since March 8 as the greenback advanced against all of its Group-of-10 counterparts except the Japanese yen, which is also often seen as a haven. The move came as better-than-anticipated U.S. corporate earnings helped drive the S&P 500 index of stocks above its highest-ever closing level, while benchmark equity gauges in Europe and much of Asia rose by less.