The dollar hits its best level since January

pulse

May 1, 2018 1:52 PM

The US dollar hit a level not seen since January 11 on Tuesday.

The
Rising US government bond yields are providing support.

The US dollar hit its best level in nearly four months on Tuesday as traders ready for Wednesday's Fed meeting and a flurry of economic data.

The US dollar index, which measures the greenback versus a basket of its major peers, was up 0.47% to

the dollar seems to be surging appears to be rising US government bond yields.

hitting the key 3% level

But the analysts called that reasoning "unsatisfactory," adding that there is still uncertainty as to why the dollar is climbing.

"While there are various hypotheses, none are entirely satisfactory to explain the outbreak of dollar strength, at least not in terms of the timing of the move," the analysts said.

The greenback is up 0.44% this year.

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