It has been one helluva year for the King, and as Reuters note - A cocktail of global growth fears, Federal Reserve hawkishness and euro weakness has boosted the U.S. dollar to its highest level in around 20 years, and some investors are betting there may be more gains ahead.

The dollar index, which measures the greenback against six major currencies, is up 12% against a basket of its peers in 2022 and is on track for its best year since 2014. The measure has logged a gain 7 out of the last 10 years.