Dollar Soars to Five-Month High as US Economy Powers Ahead
- Latest rally can continue as US economy expands, analysts say
- Weak growth elsewhere is also luring traders to buy the dollar
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The dollar rallied to a five-month high as investors bet that the resilient US economy means interest rates will need to stay elevated.
The Bloomberg Dollar Spot Index climbed as much as 0.7% on Tuesday, bringing its advance since mid-July to above 4%. The ascent has been sharp and steady, with the currency recently notching seven straight weeks of gains, the longest such run since 2018.