The United States of America dollar index, which measures the greenback against a basket of six major currencies,on Tuesday, May 29, hit 94.518, its highest since mid-November 2017.
The dollar firmed against a basket of major currencies overnight supported by the weakness in the euro. The global dollar index hit a 6-1/2-month peak of 94.496 on Monday night.
The greenback fell to the upper-108 yen zone Tuesday in Tokyo, while the euro hit an 11-month low against yen amid political uncertainties in Italy.
Sterling has slumped against the dollar since mid-April as expectations of a Bank of England interest rate rise recede, the economy shows signs of weakness and worries about whether Britain can secure the Brexit deal it wants reemerge.
Against the dollar, the pound slid as much as 0.7 percent to $1.3205, its weakest since mid-November. The British currency, previously one of the best performers in 2018, is now down more than 2 percent versus the dollar so far this year.
