The U.S. Dollar Index tracks the greenback against six major currencies. The dollar has appreciated to as high as 109.46 yen Friday, its highest since August 2008, and strengthened to $1.2835 per euro, or around a one-year high.
“It tells you the dollar has been so depressed over the last few years, and now that depression is unwinding, like a coiled spring,” Douglas Borthwick, head of foreign exchange at Chapdelaine & Co., said in the article. “The Dollar Index will continue to stay bid as long as the Japanese continue to make motions of quantitative easing while Europe makes more noise about expanding their balance sheets.”
PowerShares DB US Dollar Index Bullish Fund
For more information on the greenback, visit our U.S. dollar category.
Max Chen contributed to this article.