Analysis-‘Perfect storm’ lifts dollar over unsettled markets
The U.S. dollar has been on a steady rise this year, with the Federal Reserve's hawkish stance, increasing Treasury yields, and worries about a prolonged struggle to raise the U.S. debt ceiling all contributing to the rally. The dollar has gained 4.7% since the start of the year and is close to its highest level in a year against a basket of currencies. According to the CFTC, net bets on the dollar in futures markets are at their highest level in over 18 months. As the dollar is the world's primary currency, its movements can have a significant impact on businesses, central banks, and other entities around the world.0
