According to reports from Jinshi Data, institutional analysis indicates that many traders entered holiday mode before the New Year, and the dollar remained stable in light holiday trading. The exchange rate of the dollar against a basket of currencies is expected to close at a nearly two-year high by the end of 2024.
The reasons for the significant appreciation of the dollar include a strong U.S. economy and market expectations that the Federal Reserve's further interest rate cuts will be limited. Despite weak U.S. durable goods and housing data last week, the dollar has performed well in recent days.