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Dollar dominates on cautious Fed, Trump trade

The U.S. dollar hit a two-year high and was on track to post an annual gain against almost all major currencies on Tuesday as the prospect that the Federal Reserve will hold interest rates higher than peers led the U.S. currency to dominate rivals. Traders have adjusted for the U.S. central bank to take a slow and cautious approach to further rate cuts next year as inflation remains above the Fed’s 2% annual target. Analysts also expect policies to be introduced by president-elect Donald Trump, including business deregulation, tax cuts, tariffs and a clampdown on illegal immigration, to boost growth and add to price pressures next year.

Dollar Gains as Fed Rate-Cut Rethink Fuels Best Year in Nine

(Bloomberg) -- The US dollar rose Tuesday, capping its strongest yearly advance in nearly a decade as the solid US economy and President-elect Donald Trump’s tax-cut and tariff policies promise to keep interest rates elevated.Most Read from BloombergDetroit’s Michigan Central Is the Building Revival Story of 2024Burned Out Parents Need Better Public SpacesA Commuting Resolution for 2025: Ride Your Local Subway or BusThe gain drove the Bloomberg Dollar Spot Index to the highest since November 202

Boeing on track to be 2024's biggest loser in Dow Jones Index

Boeing's shares opened the year at $257.50. Regardless, Boeing has struggled to produce close to its maximum-allowed 737 planes per month due to supply-chain problems, quality issues and a seven-week-long strike that temporarily shut down most of its commercial aircraft production, including the 737 program. Boeing also continued to post massive losses from its commercial, military and space programs throughout the year.