Dollar at Highest Since November as Rally Extends to Four Days
- Higher yields, debt ceiling push traders to greenback shelter
- Strength seen likely through year-end, Monex Europe says
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Traders have flocked to the dollar this week as they parsed implications of the U.S. debt-ceiling battle and a shift toward more hawkish policy from the Federal Reserve.
A gauge of the dollar’s strength against major peers rose to the highest in almost 11 months on Wednesday. The dollar outperformed all of its Group-of-10 peers, with the New Zealand dollar and Norwegian krone among the biggest losers. The euro declined to a 10-month low.