Currencies: Dollar climbs, rallying from last week’s weakness

The dollar strengthened against most of its major rivals on Monday, rallying from sharp losses posted last week as investors paced healthy U.S. economic data and a recent pick up in Treasury yields.

The ICE Dollar Index DXY, +0.62% which measures the greenback against a basket of six rival currencies, gained 0.6% to 96.218, setting in on track for its biggest one-day rise since May 8, according to FactSet data.

The dollar index last week closed out 2017’s second quarter with its worst quarterly loss since September 2010, pressured by hawkish comments from the heads of the European Central Bank and the Bank of England and lingering concerns over President Donald Trump’s pro-growth agenda.

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