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Dollar Advances Toward Yearly High
The dollar experienced a strong rally and is on track to achieve its biggest monthly gain in a year, surpassing the 1.14 level against the euro and reaching its strongest level in 13 months at 1.1325 dollars. It also neared its highest level in over four decades against the yen at 161.73 yen. The dollar index hit a 13-month high of 101.8, and it rose to its highest level in seven months against the British pound at 1.314 dollars. Meanwhile, the Australian dollar fell to 0.6890 dollars, losing more than 1.8% since the beginning of the week, and the New Zealand dollar steadied at 0.5640 dollars after dropping 1.7% during the week.
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