Dollar Sturdy After 4 Consecutive Weeks of Advances

Dollar Sturdy After 4 Consecutive Weeks of Advances
An employee counts U.S. dollar bills at a money exchange in central Cairo, Egypt, on March 20, 2019. Mohamed Abd El Ghany/Reuters
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The dollar consolidated gains against its rivals on Monday after four consecutive weeks of increases as widening concerns about the Chinese property sector and firm U.S. Treasury yields have encouraged hedge funds to ramp up their long positions.

After spending the second quarter of 2021 on the back foot the dollar has received a fresh boost in recent weeks, climbing to its highest levels in a year against its rivals last week as top investment banks have revised up their forecasts.