Currency: Dollar Strength Nears 13-Month High as Fed's Move Looms
Dollar strength sent the US currency to a new 13-month high on Friday. The Federal Reserve policy stance and forex market trends pushed the US dollar index up 0.08% to 107.15, its highest since October 2023. The global economic outlook remains uncertain amid tensions and volatility. Source: investing.com Also Read: Russia Legalizes Crypto Mining: How It Helps Evade Sanctions How Dollar Strength Affects Forex Markets, Fed Policy, and Global Trends Fed Policy Expectations Drive Dollar Movement Source: FederalReserve.gov CME’s FedWatch Tool shows a 57.8% chance of a December 25-basis-point rate cut, down from 72.2% last week. The Federal Reserve policy has grown more hawkish as inflation persists. Next Friday’s U.S. PCE data will be key for monetary decisions. Source: FederalReserve.gov Global Currency Impacts and Trading Patterns Latest forex market trends show pressure on major currencies. The euro fell 0.05% to $1.0469, hitting a 13-month low. Sterling dropped to $1.25705, i...