Dollar bulls seek sign of US strength as other currencies fall

US Fed will meet July 28-29 to discuss when to raise interest rates, and a report a day later may show US economy rebounded from a first-quarter slowdown

As currencies tumbled this week on concern some of the world's biggest economies are in decline, investors are looking to the US for signs the dollar's strength is based on more than just faltering peers.

The Federal Reserve will meet July 28-29 to discuss when to raise interest rates, and a report a day later may show the US economy rebounded from a first-quarter slowdown. While commodity currencies such as Brazil's real and Australia's dollar slumped at least 1.2 per cent last week, as fresh signs of a slowdown in China raised doubts about global growth, the dollar had the smallest weekly move in almost two months. The Bloomberg Dollar Spot Index rose 0.1 percent to 1,209.47 this week.