The U.S. dollar looks set to shake off its summer lull as the factors for a renewed rise appear to be firmly in place.
Upbeat economic data, rising Treasury yields and Federal Reserve tapering expectations have boosted sentiment on the greenback, which hit a six-week high around 100.20 yen on Friday, and held close to a seven-week peak hit against the euro on Thursday following dovish comments from the European Central Bank.
A rise in 10-year Treasury yields to 3 percent on Thursday, their highest level since July 2011, following stronger-than-expected economic data has refocused attention on the U.S. currency.
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"We had a temporary pause in July when bond yields pulled back and the dollar paused, but now we're near that 3 percent level and there's renewed focus on payrolls and the Fed meeting this month, so for sure we're going to see another bout of dollar strength," Nick Bennenbroek, head of currency strategy at Wells Fargo, told CNBC Asia's "Squawk Box" on Friday.