The dollar surged to a four-month high as a report showed the U.S. economy grew in the first half of the year, a day after the Federal Reserve took a step closer to raising interest rates.

The U.S. currency strengthened against all of its 16 major peers as data showed the world’s biggest economy expanded at a faster pace in the second quarter and eked out a gain at the start of the year.

The Bloomberg Dollar Spot Index, which tracks the greenback versus 10 of its major peers, gained 0.3 percent to 1,211.54 at 3:29 p.m. in New York. It reached the highest since March, when it rose to a record in data going back to 2004.

The U.S. currency gained for a third straight day against both the euro and the yen, rising 0.5 percent to $1.0929 against the euro and 0.2 percent to 124.15 yen.

Source: Bloomberg