💨 Abstract

The dollar strengthened on Monday, near a two-year high, as traders digested expectations of fewer Federal Reserve interest rate cuts next year due to inflation remaining above the Fed's target. The yen edged up from five-month lows against the greenback. The dollar is on track for a 6.6% gain this year, while the yen has suffered from a wide interest-rate differential between Japan and the U.S.

Courtesy: theprint.in