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The Tell: How much juice is left in the dollar rally?

The U.S. dollar remains on an impressive upswing against virtually all of its rivals, with a closely followed index hitting fresh four-month highs hitting a string of four-month highs. But how much juice is left in a rally inspired by rising interest rate expectations and weaker economic data elsewhere?

The ICE U.S. Dollar Index DXY, +0.02% a measure of the currency against six major rivals, topped the 93-level for the first time since December on Tuesday. The U.S. unit over the past several weeks was teased higher first by rising Treasury yields TMUBMUSD10Y, +0.79% that reflected higher interest rate expectations, as well as by sluggish economic data outside the U.S.

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