Dollar Sets 2018 Highs on Jitters Over Iran, Italy

Dollar Sets 2018 Highs on Jitters Over Iran, Italy
U.S. dollar banknote is seen in this picture illustration taken May 3, 2018. REUTERS/Dado Ruvic/Illustration
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NEW YORK—The dollar advanced on Tuesday to its highest level of 2018 against a basket of currencies on safe-haven buying, as investors worried about the fate of the Iran nuclear deal and political turmoil in Italy.

Recent data showing Europe’s economic growth was slowing caused traders to cut bullish bets on euro and to scale back their outlook for European interest rate hikes in 2019.