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Dollar rally picks up speed, Apple to manufacture iPhone 14 in India and meme stocks survey.

The dollar rally is picking up speed again ahead of the Jackson Hole symposium later this week. The US currency has rallied against every major currency, including the yen, the Swiss franc and the pound this week. The dollar took the euro below parity again and to its lowest level since 2002. Currency strategists, such as Nick Twidale of broker FP Markets in Sydney, see the dollar as having further to go, describing it as the "easiest trade." A drop in the yuan is also feeding the dollar's rise, with the Chinese currency falling to a near two-year low as the country battles a slowdown in the property market and the fallout from rolling Covid lockdowns.