Only the Japanese yen has proved stronger than the greenback among G-10 currencies so far this year, with the Norwegian krone, euro, and Swiss franc falling sharply.
Nellie Liang, the U.S. Treasury Department's undersecretary for domestic finance, says that the need for a digital dollar doesn't currently exist and that the U.S. might adopt a CBDC several years from now, if a lot of other countries do so first.
After a decade of struggling to keep up with Wall Street, European banks are enjoying a rare period of outperformance, buttressed by four large interest rate increases in the span of just half a year.
France has accused Washington of pursuing a "Chinese-style" industrial policy that discriminates against non-U.S. companies and has said it may take the U.S. to the WTO over its new law.
U.S. inflation data suggests price pressures have peaked, giving financial markets hope that the Federal Reserve's interest-rate hikes will soon pause.
