Driven by strong data, the dollar is expected to achieve its longest consecutive increase since February.

The latest data shows that the U.S. economy is strong, and the dollar is on track for its longest continuous rally since February this year. The Bloomberg Dollar Spot Index rose by 0.3%, reaching its highest level since June 23rd, and the index has been rising for the fifth consecutive trading day. The U.S. economic growth and inflation data released on Wednesday were higher than expected, supporting the hawkish stance of the Federal Reserve. Economic activity in the U.S. rebounded in the second quarter due to a slight increase in consumer spending, and the Fed's preferred inflation gauge, core PCE, rose by 2.5% year-on-year. Additionally, ADP private sector employment data shows that the labor market remains strong. Valentin Marinov, head of G10 currency strategy at Credit Agricole, stated, "The market may interpret this data as suggesting that the Fed's future rate cuts will be slower and later, if Fed Chairman Powell continues to maintain his current relatively neutral policy stance, the attractiveness of the dollar's interest rates may further increase."