Dollar Posts Longest Winning Streak Since 2022 as Fed Bets Fade
- Bloomberg dollar index gains for an eighth straight day
- Asset managers shift to dollar from euro, pound, traders say
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The dollar advanced on Wednesday, for its longest run of gains in more than two years as US economic resilience forced traders to rethink their expectations for Federal Reserve interest-rate cuts.
The Bloomberg Dollar Spot Index rose 0.4% on the day. It kept its gains as the minutes of the September Fed meeting showed that there was some pushback against a half-point interest-rate cut. The dollar gauge has gained eight straight days, its most protracted winning streak since April 2022. It’s up about 2% in that period.