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Dollar at two-year high on growth outlook, euro tumbles - REUTERS

JANUARY 02, 2025

By 


Summary

  • Dollar index highest since November 2022
  • Sterling, euro tumble through technical levels
  • Yen pinned near five-month low
  • Bets on Trump policies leading to stronger dollar remain in place

NEW YORK, Jan 2 (Reuters) - The U.S. dollar jumped to a two-year high on Thursday in the first day of 2025 trading, building on last year's strong gains on expectations U.S. growth will beat peers and keep U.S. interest rates relatively elevated.

The Federal Reserve has indicated that it will be more cautious in cutting interest rates as inflation remains stubbornly above its 2% annual target and the economy remains strong.

Policies by U.S. President-elect Donald Trump are also expected to boost growth and potentially add to upward price pressures.

MARKET NEWS

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