Dollar Extends Gains Against Major Counterparts
(RTTNews) - The U.S. dollar gained against its major counterparts on Tuesday, the final session of Year 2024, on strong year-end demand and amid bets the Federal Reserve will take a cautious approach with regard to interest rate cuts as economic policies under the upcoming Trump administration will likely stoke inflation.
The dollar index, which rose to a new 2-year high of 108.58, pared some gains subsequently, but was still up firmly with a gain of nearly 0.3% at 108.44.
Against the Euro, the dollar strengthened to 1.0360 from 1.0408, and against Pound Sterling, it firmed to 1.2520, gaining about 0.25%.
The dollar gained against the Japanese currency, rising to 157.33 yen a unit after exhibiting weakness in the Asian and European sessions. Against the Aussie, the dollar firmed to 0.6189 from 0.6221.
The dollar advanced against the Swiss currency, fetching CHF 0.9074 a unit, up from previous close of CHF 0.9036. Against the Loonie, the dollar climbed to C$ 1.4379 from C$ 1.4357.
Canadian Market Remains Positive, Looks On Course For Another Firm Close
Swiss Market Ends Modestly Higher
European Stocks Close Weak After Cautious Session
Australian Dollar Drops Against Most Majors
Canadian Dollar Falls Against Majors
U.S. Manufacturing Index Indicates Modestly Slower Contraction In December
Tesla Stock Hit On First Decline In Annual Deliveries
