Dollar Nears Monthly Peak Amid Rising US Yields and Anticipation of Rate Cuts The U.S. dollar is approaching its highest level since December, driven by an increase in Treasury yields and investor speculation about upcoming U.S. interest rate reductions. The Bloomberg Dollar Spot Index saw a rise of 0.3%, potentially reaching its peak since mid-December. This surge comes as investors eagerly await insights from Federal Reserve Governor Christopher Waller, following Chair Jerome Powell’s indication of possible rate cuts in 2024. The rise in Treasury yields across various maturities after a U.S. holiday also contributed to the dollar’s strength. Currency trader Mingze Wu from Stonex Financial suggests that the market is realigning its expectations, possibly doubting any rate cuts by Powell within the year. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Charted: Workers Win As Wage Growth Outpaces Inflation READ MORE Optimistic Shift in U.S. Economic Outlook Despite Ongoing Challenges READ MORE US Jobless Claims Decline Again, Signaling Labor Market Strength READ MORE Goldman Sachs: Commodities Offer Superior Protection in Inflationary Times READ MORE PIMCO Cautions: Inflation and Recession Battles Not Yet Won READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment