Dollar set to snap two-year winning streak on 2024 rate cut bets

London, Dec. 29 (BNA): The dollar edged higher on Friday but was still set to end 2023 with a loss, reversing two straight years of gains, dragged down by market expectations that the U.S. Federal Reserve could begin easing interest rates as early as March.

The greenback crept higher on the last trading day of the year although currency moves were mostly subdued amid a holiday lull leading up to the New Year, Reuters reported.

Since the Fed launched its aggressive rate-hike cycle in early 2022, expectations of how far U.S. rates would have to rise have been a huge driver of the dollar.


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