The US Dollar Index climbed to a 13-month high, reaching near 101.40 on Tuesday, as investors responded positively to the latest US manufacturing data. According to FX Street, this marks the strongest level for the index since May 2022.
The boost came following the release of the S&P Global US Manufacturing Purchasing Managers' Index (PMI), which rose to 55.7 in June. FX Street noted this is the highest reading for the manufacturing PMI since May 2022, reflecting robust expansion in the sector.
For Japanese investors, the strengthening dollar amid improving US manufacturing conditions could influence currency strategies and export-oriented equity positions, especially given the ongoing global economic recovery.