Washington
CNN
—
The mighty US dollar flexed some muscle last week in a positive sign for Americans’ purchasing power.
The US dollar index, which measures the currency’s strength against six of its peers, closed Tuesday at 106.26, its highest level since early November. The US economy’s remarkable strength is a big reason behind the dollar’s rally over the past week.
The latest data on retail spending released Tuesday showed that Americans continue to open up their wallets, and other figures released earlier this month show the US job market remains solid and the country’s manufacturing sector is expanding.
Federal Reserve officials…
