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Dollar bears have been beaten into submission, as the dollar index rose to its highest level in nearly 2 years in late April. Speculators had raised long dollar positions to $37.2 billion, the highest level since December 2015, according to Commodity Futures Trading Commission data released on Friday.

By the numbers: Having risen by 4% in 2018, the dollar is up about 2% so far this year and a Reuters poll of economists expects that strength to continue for the next 3 to 6 months. Though, they expect it will fall within a year.

  • Analysts have been predicting the dollar would weaken for the past 2 years, but have consistently been proven wrong, as central banks outside the U.S. have mimicked the Fed's dovish tone.

Go deeper: King dollar keeps rising

Go deeper

Janet Yellen confirmed as Treasury secretary

Janet Yellen. Photo: Alex Wong/Getty Images

The Senate voted 84-15 to confirm Janet Yellen as Treasury secretary on Monday.

Why it matters: Yellen is the first woman to serve as Treasury secretary, a Cabinet position that will be crucial in helping steer the country out of the pandemic-induced economic crisis.

Dan Primack, author of Pro Rata
3 hours ago - Economy & Business

Scoop: Red Sox strike out on deal to go public

Illustration: Sarah Grillo/Axios

The parent company of the Boston Red Sox and Liverpool F.C. has ended talks to sell a minority ownership stake to RedBall Acquisition, a SPAC formed by longtime baseball executive Billy Beane and investor Gerry Cardinale, Axios has learned from multiple sources. An alternative investment, structured more like private equity, remains possible.

Why it matters: Red Sox fans won't be able to buy stock in the team any time soon.