Dollar Rises Nearly 3% Over Four Weeks, Setting Record for Longest Consecutive Gains Since Early 2025

U.S. inflation data exceeded expectations, prompting traders to bet on interest rate hikes by the Federal Reserve, pushing the dollar to its highest level in over a year. The Bloomberg Dollar Spot Index surged significantly on Wednesday, rising as much as 0.4% during the session. Over the four weeks ending October 9, the dollar has accumulated a nearly 3% increase, marking the longest consecutive gains since early 2025. The market anticipates that the cumulative interest rate hikes in the U.S. will exceed 90 basis points.

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