The dollar hits a 13-month high against a basket of major currencies
Continue The dollar gains, reaching the highest level in 13 months today, Wednesday, against a basket of Major currencies, as investors seek protection from the risks of a wave of selling in technology company stocks, and prepare to raise Interest rates by the Federal Reserve (the US central bank).
The dollar index, which measures the performance of the US currency against a basket of currencies that includes the yen and the euro, rose to 101.44, its strongest level since May 13, 2025.
While the euro recorded in the latest trading $1.1375, near the lowest level in a year, and the British pound fell slightly to 1.3199.
The highly risk-sensitive Australian dollar settled at $0.6918 before the latest consumer price index reading was released later in the day.
The New Zealand dollar fell
While the New Zealand dollar fell 0.05% to $0.5665, recording a new low in 6 months.
The yen last traded at 161.57 to the dollar after briefly falling to the lowest Its two-year high was at 161.93 late Monday, with the dollar continuing to make gains.
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