Market News
Dollar set for big annual gain as traders brace for high US rates - REUTERS
By Naomi Rovnick and Ankur Banerjee
- Summary
- Dollar index set for 6.6% rise in 2024
- World stocks notch 1.6% weekly gain in thin trade
- Yen at five-month lows in fourth year of declines
- Hawkish Fed keeps euro near two-year lows
LONDON, SINGAPORE Dec 27 (Reuters) - The U.S. dollar headed towards an almost 7% annual gain on Friday and Japan's yen for a fourth consecutive year of losses as traders anticipated robust U.S. growth would make the Federal Reserve cautious on rate-cutting well into 2025.
The dollar index , which measures the currency against major rivals, rose 0.08% on Friday to 108.16 to approach a 2.2% monthly rise and was on course to close the year 6.6% higher.
