Dollar surges to a five-month high as rally spreads

LONDON - 21 May 2018: The dollar hit a fresh five-month high on Monday as investors heaved a sigh of relief after U.S. Treasury Secretary Steven Mnuchin declared the U.S.-China trade war “on hold” following their agreement to suspend the tariff threats.

Against a basket of its peers, the greenback rose above the 94 line for the first time since late-December 2017.

Since its rally began on April 17, the dollar has surged more than 5 percent, its biggest rising streak since late 2015, just before the U.S. Federal Reserve’s first interest rate rise since the 2008 financial crisis.