Reported 3 days ago
The dollar surged to its highest level in over two years as the Federal Reserve indicated a slowdown in rate cuts for the upcoming year. The Bloomberg Dollar Spot Index increased by 0.9%, with significant drops in other major currencies including the euro and pound. The Fed lowered interest rates by a quarter point and projected further cuts in 2025, leading to a hawkish outlook that bolstered the dollar. Analysts predict the dollar will continue to strengthen as the U.S. economy outperforms others despite global monetary easing.
Source: YAHOO