Authored by Ankur Banerjee
In Singapore, the dollar remains strong on the final trading day of the year, set to record significant gains in 2024 against most currencies. This is due to expectations of fewer U.S. rate cuts and anticipation of policies from the incoming Trump administration.
Boosted by increasing Treasury yields, the dollar’s rise has pushed the yen towards its lowest levels since July. As of Tuesday, it stood at 157.02 per dollar, heading for a 10% decline in 2024 – marking its fourth consecutive year of weakening against the dollar.
With Japanese markets closed for the remainder of the week and many other markets shut on Wednesday for New Year’s Day, trading volumes are expected to be minimal.
This has kept the dollar index near 108.06, not far from its two-year peak reached earlier this month. The index has climbed by 6.6% in 2024 as traders reduce expectations of significant rate cuts next year.
The Federal Reserve’s unexpected moves have also impacted…
2024-12-30 19:59:42
Source: finance.yahoo.com