Strong US Dollar Means Pain for Foreign Currencies

The US dollar, relative to other world currencies, has been soaring in strength throughout this year. But why? With high inflation, negative GDP growth and mounting debt, why would the US currency hold so much value across the globe? Two reasons.

First, the Federal Reserve is actively, aggressively raising interest rates. They see it as their only tool to fight the highest inflation we’ve seen in forty years. Treasury bond yields are taking…