The U.S. dollar surged to a two-year high on Thursday, the first trading day of 2025, extending last year's solid gains. This rise is driven by expectations that U.S. economic growth will outpace other countries, keeping U.S. interest rates relatively high.
The Federal Reserve has signaled a more cautious approach to lowering interest rates, as inflation continues to remain above its 2% annual target, and the economy stays robust.
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