The US dollar jumps to its highest level in 10 months versus rival currencies

• The US dollar surged to its strongest point in 10 months against a basket of rival currencies Tuesday.
• The euro hit its weakest since December 2022 following almost a 1% drop Monday amid hawkish Fed comments.
• The pound dropped to its lowest level since March, down 0.26%. 

On Tuesday, the US dollar surged to its highest level in 10 months against a basket of rival currencies, while the euro, pound, and yen all fell to multi-month lows. 

The US Dollar Index, which tracks the buck against six other currencies, has climbed 2.76% over the last four weeks. On Tuesday it was up to 107.16, a level it hasn't seen since last November.