Dollar Eyes Best Week Since 2024 as Jobs Data Looms

The dollar is heading for its best week in more than a year after the US strike on Iran triggered a flight to safety, and traders are turning to Friday’s jobs report to see whether the rally will continue.

The Bloomberg Dollar Spot Index rose 1.4% so far this week. If the gains hold, the index is poised to have its best week since November 2024. The moves this week have partly reversed broader weakness in the dollar caused by policy uncertainty from Washington, and expectations that the Federal Reserve was poised to cut rates this year.