According to Jinshi Data, institutional analysis pointed out that many traders entered holiday mode before the New Year, and the US dollar remained stable in light holiday trading. The exchange rate of the US dollar against a basket of currencies is expected to close at a nearly two-year high at the end of 2024.
The dollar has surged on the back of a strong U.S. economy and expectations that further rate cuts from the Federal Reserve will be limited. The dollar has held up well in recent sessions despite weak U.S. durable goods and housing data last week.