Stubbornly strong dollar looms large over G20 Summit

Fevered speculation of the dollar’s demise has gained intense currency throughout 2023. Yet the world’s reserve currency and the market bulls driving it ever higher haven’t gotten the memo.

This disconnect is sure to dominate discussions at this weekend’s Group of 20 summit in New Delhi, Indian.

Officially, the host, Indian Prime Minister Narendra Modi, wants the September 9-10 confab to focus on cooperation and showcasing India’s rising clout in global trade and finance.

Yet the sideline of these events is where the real action happens. And a major source of discord is why the dollar is climbing for an eighth straight week, the longest such streak since 2005.