US dollar gains for the second week amidst Japan's rate hike and SNB's interest rate cut, and US Fed set for three rate cuts by year-end.
The US dollar has shown broad gains for the second week in a row, remaining steady despite Japan's rate hike and the Swiss National Bank's (SNB) main interest rate cut. The US Federal Reserve has maintained its projection of three rate cuts by the end of the year, with no action on rates this week. The dollar's strength is drawing investors to seek "carry" - the difference between interest rates - on other currencies such as the euro and the Australian dollar. The US dollar index has risen 0.5% to 103.94.
March 21, 2024
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