Dollar Heads for Best Run in Year in Bet on Fed Delaying Cuts [Yahoo! Finance]
ING Group, N.V. (ING)
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Source: Yahoo! Finance
(Bloomberg) -- The dollar is headed for its best rally in over a year as growing expectations that US interest rates will stay high for longer prompt investors to pile into the currency. Most Read from Bloomberg Beyond the Ivies: Surprise Winners in the List of Colleges With the Highest ROI Iran's Attack on Israel Sparks Race to Avert a Full-Blown War Apple Faces Worst iPhone Slump Since Covid as Rivals Rise Israel Versus Iran — What All-Out War Could Look Like Tesla Executive Baglino Leaves as Musk Loses Another Top Deputy The Bloomberg Dollar Spot Index climbed for a fifth day on Tuesday, making for the biggest gains in a week since February 2023 and taking it to the highest since November. A strong reading of US retail sales on Monday added to the rally sparked last week when surprisingly high US inflation data triggered a significant reduction in bets for Federal Reserve rate cuts this year. Also bolstering the greenback is an escalation in tensions in the Middle
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