Global Growth and Nvidia Spur Dollar’s First Weekly Loss in 2024

The dollar’s 2024 bull-run is on track for its first weekly setback after global growth and risk sentiment got a boost from blockbuster earnings by stock-market darling Nvidia Corp.

A Bloomberg gauge of the greenback has fallen 0.2% since last Friday after rallying seven straight weeks in a 2.6% advance through Feb. 16. Treasury yields at year-to-date highs failed to ignite demand for the US currency as the ICE dollar index also dropped 0.4% so far this week, on track for its worst performance in two months. Most G-10 currencies advanced.