Investing.com – Lost in the hoopla of the 10-year Treasuey note’s move to 3%, the daily barrage of earnings and the recurrent volatility
of the stock market has been a quiet and surprising rally in the dollar.
The U.S. currency just registered its best monthly gain since the Trump presidency, based on the ICE , a trade-weighted basket
of six world currencies. That puts the dollar at about 1.23 against the Euro and 109 yen.
Analysts say the 1.9% gain is somewhat surprising, given the inception of negotiations for a U.S.-North Korea summit.
Though that source of international tension has waned, concerns about a U.S.-initiated trade war remain and they are supporting the dollar.
Analysts also say a series of stronger than expected economic reports and speculation the Federal Reserve will become more aggressive in raising interest rates are behind the mini rally.
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