【Nomura Securities: The US Dollar is Expected to Strengthen in 2025】Golden Financial reports that Nomura Securities' global foreign exchange strategy team stated in a research report that the US dollar may strengthen in 2025. The team indicated that key themes entering next year include the Federal Reserve potentially struggling to lower interest rates due to persistently high core inflation in the US; as well as the tariff policies of President-elect Trump. The team added that currencies that may perform poorly in the first half of 2025 could include the South Korean won, Thai baht, Singapore dollar, Swiss franc, and Swedish krona, while the Indonesian rupiah, Japanese yen, and Norwegian krone may perform slightly better.