Dollar's Resilience Defies Weak Data as Fed Tightening Bets Intensify

The U.S. dollar has continued its upward trend despite weaker-than-expected job openings and consumer confidence data.

Rising expectations of further Federal Reserve tightening and a bond market selloff are providing additional support for the greenback.

This resilience in the dollar's value is not limited to the U.S. market, as the Australian dollar has come under pressure even after the Reserve Bank of Australia raised interest rates by 25 basis points.