London CNN —The US dollar is enjoying its longest winning streak in nearly nine years.
The rally comes after months of volatility, fueled by concerns that the dollar may be losing its status as the world’s reserve currency.
“Rumors of the US dollar’s demise continue to be greatly exaggerated,” James Athey, investment director at Abrdn, an asset manager, told CNN.
Higher interest rates tend to boost the value of a country’s currency by attracting more foreign capital, as investors anticipate making bigger returns.
“The US economy continues to surprise to the upside,” Carsten Brzeski, global head of macroeconomic research at ING, told CNN.
Persons:
” James Athey, ” Athey, ” Carsten Brzeski, ” Brzeski, Russ Mould, AJ Bell, Athanasios Vamvakidis, Sheldon Cooper, “, ” Alex Cohen
Organizations:
London CNN, CNN, Federal Reserve, ING, US Federal Reserve, European Central Bank, Bank of America Global Research, People’s Bank of
Locations:
Saudi Arabia, United States, China, Europe, Germany, Russia, People’s Bank of China