The dollar is wrapping up its best month of 2025 as the world’s largest economy powers ahead and President Donald Trump inks trade deals. The Bloomberg Dollar Spot Index has risen 2.5% in July, the only positive month since President Donald Trump was sworn into office back in January.

The U.S. economy expanded more than expected as President Donald Trump’s tariffs took hold over recent months, federal government data on Wednesday showed. U.S. gross domestic product, or GDP, increased at a 3% annualized rate over three months ending in June.

The nation has dodged the worst-case scenarios predicted by Wall Street economists just months ago, an easy bragging point for the administration. But the administration is claiming ownership of the U.