The more people believe the Fed is taking interest rates to 5 percent the more they are buying dollars. People are trading interest rates.
More Quotes from Jeff Gladstein:
The longer-term trend for the dollar is higher for the balance of the year. The economy is doing fine.Jeff Gladstein
The reigning theme has been the interest rate differentials that have propelled the dollar higher and the market thinks that theme won't be unwound any time soon. People are continuing to buy dollars on that theme.
Jeff Gladstein
It was a somewhat weak rally in the euro anyway and it wasn't a move that was substantiated by the trade figures.
Jeff Gladstein
Everybody's waiting for tomorrow to see if the economy really is on a aggressive roll. It would imply moving more toward 5.25 percent, which should keep the dollar relatively well bid.
Jeff Gladstein
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Horace
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As for everything else, so for a mathematical theory: beauty can be perceived but not explained.
Arthur Cayley