Dollar Hits 3-Month High on Strong Growth and Rate Hikes

The US dollar has enjoyed its best week in three months after the Federal Reserve's interest rate hike. This move removed a major obstacle to a stronger dollar, according to JPMorgan, Standard Chartered Bank, and Brown Brothers Harriman.

The Bloomberg Dollar Spot Index is up about 1.1% this week, driven by solid US economic growth and the Fed's anti-inflation message. The decision suggests more interest-rate hikes are on the horizon, which has bolstered the dollar's performance.