Dollar Touches Highest in Six Weeks on U.S. Rebound
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The dollar touched the strongest in six weeks against major peers amid optimism the U.S. recovery is gathering pace. New Zealand’s currency fell on prospects of lower earnings for the nation’s dairy farmers.
The Bloomberg Dollar Spot Index rose toward the 38.2 percent Fibonacci retracement of its drop between January and May before Federal Reserve officials start a two-day meeting today. The greenback reached a three-week high versus the yen after 10-year Treasury yields rose yesterday for the third time in four trading sessions. New Zealand’s dollar slid to the weakest since June 10. The yuan climbed to a four-month high.