Plus, Biden hands Trump a ticking time bomb.
The US dollar was poised to end the year on a sour note and continue a downward spiral heading into 2025. But, so far, this has not happened. In fact, the buck is at its best level in two years and is the top-performing currency of any advanced economy in the world. While it is true that the greenback has lost most of its value over the past century, global financial markets are ebullient over the dollar because currencies elsewhere, for the most part, offer very little prospects for the future.
King Dollar Sits on the Throne
The US Dollar Index (DXY), a measure of the greenback against a weighted basket of six currencies dominated by the Japanese yen and euro, had a terrific 2024. Last year, the index rocketed 6.5% to 108.53, the highest level since October 2022.
This was not supposed…
