Market News
Dollar edges higher as Fed rates view sets direction - REUTERS
Summary
- Dollar up for fifth session in six
- Yen weak, near prior intervention levels
NEW YORK, Dec 24 (Reuters) - The dollar edged higher on Tuesday in thin holiday trading as the expected slower path of interest rate cuts from the U.S. Federal Reserve compared with other global central banks continued to command market direction.
The greenback has jumped more than 7% since the end of September, powered in part by growing expectations the U.S. economy will see accelerated growth under policies from President-elect Donald Trump, while sticky inflation has dampened expectations on how aggressive the Fed will be in reducing interest rates.
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