💨 Abstract

The dollar is set to end 2023 with its first loss since 2020 against the euro and a basket of currencies on expectations the U.S. Federal Reserve will begin cutting rates next year. Markets are pricing in even more aggressive cuts, with the first reduction seen likely in March and 154 basis points in cuts expected by year-end. The euro gained 0.07% to $1.1069, hovering just below a five-month peak of $1.11395 on Thursday.

Courtesy: theprint.in