Rising Dollar Gains Momentum Amid Global Concerns

The U.S. dollar is set for its strongest weekly performance in over a month, driven by expectations of fewer Federal Reserve rate cuts and potential inflationary policies from President-elect Donald Trump. The dollar's rise has pressured other currencies, with the euro and yen experiencing significant declines. Fed Chair Jerome Powell's comments on maintaining current interest rates due to economic resilience have led traders to adjust their rate cut expectations. Meanwhile, the yen's continued weakening raises the possibility of intervention by Japanese authorities.