New york: The dollar extended its rally to hit its strongest level in 13 months against a basket of major currencies today, as investors sought shelter from a sell-off in technology stocks and braced for Federal Reserve rate hikes.
According to Oman News Agency, the dollar index, which tracks the US currency against the yen, the euro, and other major peers, rose to 101.44 - its highest since 13 May 2025. The euro last traded at $1.1375, hovering near a one-year low, while sterling edged down to $1.3199. The risk-sensitive Australian dollar steadied at $0.6918 ahead of consumer price data due later today, while the New Zealand dollar slipped 0.05 percent to $0.5665, a fresh seven-month low.
The yen last traded at 161.57 per dollar, after briefly touching a two-year low of 161.93 late on Monday, as the dollar continued its broad-based advance.