The dollar jumps to a fresh high for 2023 as investors bet the Fed's inflation fight is nowhere near over

Tue, 09/26/2023 - 05:21

The US dollar has racked up 10 straight weeks of gains, with investors betting the Federal Reserve will have to hold interest rates at a higher level for longer to crush inflation.
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A gauge of dollar strength climbed to a new high for 2023 Monday.
Traders are betting that the Federal Reserve will have to keep interest rates at a higher level for longer to crush inflation.
That’s powered the greenback to 10 straight weeks of gains.

The dollar rose to a new high for the year against its rivals Monday, with the greenback powered higher by investors' bets that the Federal Reserve is nowhere near winding down its battle against inflation.