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Dollar Grows to Strongest Level in Nearly Two Years

April 8, 2022 by Forex Winner Leave a Comment

Dollar Grows

Source: Bloomberg

An indicator of the US dollar rallied to its best performance in nearly two years in line with the continued increase in Treasury yields. DXY is up 0.30%, while QQQ is down 1.02%.

  • The Bloomberg Dollar Spot index inched up by 0.4%, overtaking the previous year-to-date high. The last time this level was seen was in July 2020.
  • The greenback appreciated against its counterparts, benefiting from the anticipation of tighter policy which drove Treasury yields higher to three-year highs.
  • The dollar has also strengthened with demand amid the ongoing geopolitical tensions between Russia and Ukraine.
  • Strategists believe that the United States is “still on fire,” with the country seen as pulling away from the rest of the world.

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Filed Under: Forex News Tagged With: Dollar, USA

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