US Dollar Near Two-year High As Rate-Cut Bets Fade
The US dollar is holding near a two-year high as traders reduce expectations for Federal Reserve rate cuts in 2025. With President-elect Donald Trump preparing to reintroduce tariffs, concerns over global trade and inflation are putting pressure on other major currencies like the euro, yen, and pound. In another development, Oil prices remain close to four-month highs as fresh U.S. sanctions on Russian oil dominate market sentiment. Brent crude settled at $80.73 per barrel, while WTI traded at $78.64, following sanctions targeting Russia's "shadow fleet" of oil tankers. Watch The World Report for the latest updates.
