Dollar Rises and Gold Tumbles on Diminished Fed Rate Cut Expectations

Written on 01/18/2025
Rich Asplund

The dollar index (DXY00 ) Monday rose by +0.23% and posted a new 2-year high. The dollar on Monday had carryover support from last Friday’s stronger-than-expected US Dec payroll report that reduced the chances of Fed rate cuts. Also, higher bond yields on Monday strengthened the dollar’s interest rate differentials...Image by Karolina Kaboompics via Pexels