The US dollar has overtaken its trading line from the past nine weeks to a basket of currencies.Nevertheless, green money recorded its best weekly performance since November 2016.
For the week, the dollar index added 1.41%, ending at 91.343 points.
The main catalyst behind the rise of the dollar was the rise in interest rates on 10-year US bonds. They passed the 3% levels for the first time in more than four years. Investors have shrunk their positions in US bonds as a result of fears about rising inflation and the prospects for further interest rates.
In the rest of the news, consumer confidence rose to 128.7 points, exceeding analysts' average expectations, while orders on durable goods grew to 2.6% or against the previous reporting period.
The US GDP also turned out to be above average expectations at 2.3%. Investors, however, continue to worry about the poor performance of consumer spending.
Another major reason for the appreciation of the US dollar against other major currencies was the difference in the Fed's expected policy and other banks around the world that would most likely not be as aggressive to interest rates.
