The U.S. dollar crossed another key milestone after the Federal Reserve reiterated its commitment to higher rates, and that could create pressure elsewhere in the global economy.
The dollar index hit its highest level since March 9 on Thursday, pushing its 50-day moving average above its 200-day counterpart.
That milestone for the moving averages is known as a "golden cross," which typically leads to the dollar climbing further in the coming months, according to Bank of America.
The latest leg higher for the dollar appears to be related to the Federal Reserve.
A stronger dollar could be bad news for the global economy, where some countries have been struggling relative to the U.S. already.
Persons:
Paul Ciana, Ciana, — CNBC's Gina Francolla
Organizations:
U.S, Federal Reserve, Bank of America
Locations:
U.S