The U.S. dollar is poised for an impressive 7% annual increase, with Japan’s yen enduring yet another year of losses. Traders attribute the dollar’s strength to anticipated solid U.S. economic growth, prompting the Federal Reserve to proceed cautiously on rate cuts, potentially extending into 2025.
The dollar index recorded a slight rise as the currency approached significant monthly and yearly gains, while the yen faced considerable declines. Federal Reserve Chair Jerome Powell highlighted the central bank’s cautious stance on further rate cuts, fueling trade activity in major markets.
Global economies brace for the impact of President-elect Donald Trump’s proposed policies, perceived to be both growth-stimulating and inflationary. Market watchers expect the Bank of Japan to maintain its monetary stance and predict further easing by the European Central Bank as the eurozone…
