Dollar Index Moves Closer To Recent Highs

The dollar strengthens as the US shows resilience to higher interest rates while other major economies sputter. The WSJ Dollar Index advances closer to the 100 level it last closed at back in November, while the DXY rises to March levels. The rise “is being fueled by a combination of the strong domestic macro data and weak macro news out of China and the EU,” Spartan’s Peter Cardillo says in a note. He says the dollar may be “getting ahead of itself,” while further gains are likely in the near-term. The greenback gains 0.4% versus the pound and 0.3% versus the euro, while weakening 0.3% against the yen.