Dollar’s Path to Best Month in Two Years Fueled by Election, Fed

As the US economy proves resilient, meanwhile, speculative currency traders have largely erased a bearish dollar outlook held since the market tumult of August. 
As the US economy proves resilient, meanwhile, speculative currency traders have largely erased a bearish dollar outlook held since the market tumult of August.  Photographer: Al Drago/Bloomberg

The dollar is on pace for its best month since 2022 as traders reprice Federal Reserve expectations and prepare for a presidential election that threatens to upend macro markets.

The greenback rose against all of its Group-of-10 peers Wednesday, matching a steady climb in Treasury yields. Investors heavily sold the yen, which fell below the 153 per dollar mark to its weakest level in 12 weeks, while the euro and pound both slipped for a third-straight session. A Bloomberg gauge of the dollar is up some 3.2% in October.

all articles