Dollar’s Run of Gains Won Over Traders Ahead of Fed Decision
- Bloomberg dollar gauge caps best weekly run since February
- Traders reversed course to add to bullish greenback bets
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The dollar extended a weekly winning streak after the Federal Reserve kept interest rates elevated, a move that traders correctly positioned for in the days leading up to the June policy decision.
The Bloomberg Dollar Spot Index capped a fourth-straight week of gains on Friday, the longest stretch since February, after US policymakers kept interest rates on hold and projected just one reduction in 2024. The gauge is now just shy of its strongest level of the year.