Forex
Dollar Posts Biggest Weekly Gain in Over Three Months Amid Fed Rate Hike
The Federal Reserve's indication of further rate hikes has led to a significant strengthening of the US dollar, posting its largest weekly gain in over three months.
The Bloomberg Dollar Spot Index rose 1.1% cumulatively this week, with robust US economic growth and the Fed's continued policy stance of fighting inflation providing strong support for the dollar.
JPMorgan, Standard Chartered, and Brown Brothers Harriman believe that the recent rate hike has removed a key factor constraining further gains in the US dollar.