Although the dollar hit historic lows against other major currencies in July, many investors moved into the greenback to weather the credit crunch—thus boosting the dollar’s value, the Chicago Tribune reports.

“Since mid-July, we had a complete recovery [in the dollar],” said Kathy Lien, a currency strategist with FXCM. “It’s due to the market’s flight to safety, with speculators shaken out and parking cash in U.S. dollars.”

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