Dollar falls most since 2017 on Fed rate cut bets

The dollar experienced its sharpest annual decline in eight years, with further weakness anticipated if the next Federal Reserve chief pursues deeper interest-rate cuts. Traders are betting on continued dollar depreciation, especially with the potential for a dovish successor to Fed Chair Jerome Powell. This divergence in monetary policy compared to other developed nations is dimming the dollar’s appeal.

Source: Dollar falls most since 2017 on Fed rate cut bets