Dollar Index Hits 7-week High on Higher-for-Longer US Rates

U.S. Dollar banknote is seen in this illustration taken on July 17, 2022. Dado Ruvic/Illustration/Reuters

LONDON—The dollar index rose to its highest in nearly seven weeks on Thursday, a day after minutes from the Federal Reserve’s last policy meeting that supported, but did not add to markets’ view the central bank will raise rates further.

The index, which tracks the greenback against six major peers touched 104.68, its highest since Jan. 6, in late morning in Europe, before trading just below that level steady on the day.