Dollar Set for Longest Rally in Years With US Defying Global Gloom
- US currency is headed toward a straight 8th weekly advance
- Reflects influx of cash as Fed seen holding rates elevated
This article is for subscribers only.
The US dollar extended its gains, sending the currency toward its longest rally in years as the strength of the economy fuels speculation the Federal Reserve will keep interest rates elevated.
The expectation is drawing money into the US as investors seek higher rates than they can get in Europe and Asia, exerting upward pressure on the dollar.