Back-to-Back Monthly Gains Have Greenback Bulls Cheering: Chart

(Bloomberg) -- The Bloomberg Dollar Spot Index ended October 1.8 percent higher than September, notching its first back-to-back monthly advance this year after six straight declines. The prospect for U.S. tax reform and bets on higher Federal Reserve interest rates have helped spur demand for the greenback, while more-dovish-than-expected central bank outlooks elsewhere have weighed on peers from Europe to Canada. Even the pound, which has been bolstered by the prospect of a looming U.K. rate hike, has been unable to hold its ground against the mighty dollar this past month.

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To contact the editors responsible for this story: Benjamin Purvis at bpurvis@bloomberg.net, Sophie Caronello at scaronello@bloomberg.net, Nancy Moran

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