Despite geopolitical turmoil and threats from President Trump, the US dollar has risen to a one-month high. The Federal Reserve’s interest rate cuts may not be as deep due to a strong job market, casting doubt on future rate cuts. The Bloomberg Dollar Spot Index is up 0.6% this week, the biggest gain since November. Speculative wagers against the dollar grew by $21 billion, the largest bearish swing in a month since March 2020. Analysts still predict the dollar will drift lower in the longer term as the Fed lowers rates, but recent data has eased concerns and boosted the dollar’s value.

Read more at Yahoo Finance: Dollar Defies Trump Turmoil, Rising With Focus on the Fed’s Path