Dollar Reaches 5-Week High on China Rout, Oil Drop, Greek Crisis

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The dollar surged to a five-week high as unfinished efforts to address Greece’s debt crisis and a rout in commodities pushed investors into the safest assets.

The Bloomberg Dollar Spot Index, which tracks the U.S. currency against 10 of its major peers, gained 0.6 percent to 1,197.22 as of 1:50 p.m. New York time. It touched the highest level since June 1. The yen added 0.1 percent to 122.43 per dollar.

The currency rallied 1.5 percent this week against the euro, and reached $1.0916, the strongest since June 2.

Source: Bloomberg