US Dollar Surges to Strongest Since April 2020 on Fed Hike Bets
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A gauge of the dollar’s strength rose to its highest level since the early months of the pandemic as traders wagered the Federal Reserve will intensify monetary-policy tightening.
The Bloomberg Dollar Spot Index, which tracks the greenback’s performance against a basket of ten leading global currencies, advanced 0.8% to the highest since April 2020. The gauge is on course for its largest two-session gain since March 2020.