Strong Dollar Soars as Europe and China Falter

The US dollar is at its highest level in 6 months, boosted by positive economic data and expectations of higher interest rates.
Meanwhile, China and Europe face economic troubles, with slowing growth, falling consumer prices, and waning exports.
The euro has dropped 4.4% against the dollar since mid-July as Europe heads towards possible stagflation.
China has cut interest rates to boost lending and demand, but its currency has hit a 16-year low against the dollar.
The dollar's strength gives the Fed room to keep rates high to fight inflation, while the ECB has little scope to continue hiking rates.

cnn.com

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