0937 GMT - The dollar should strengthen in the first half of 2025, buoyed by the likelihood of tariffs being implemented quickly by U.S. President-elect Trump and by limited prospects of interest-rate cuts by the Federal Reserve, MUFG says in a note. "More front-loaded tariff hikes support our forecast for the U.S. dollar to strengthen further during the first half of this year," MUFG currency analyst Lee Hardman says. Additionally, the Fed in December "sent a clear signal that they will be a lot more cautious over delivering further rate cuts this year." By contrast, other major central banks are expected to keep cutting rates. This divergence could encourage an even stronger dollar in the near term, he says. (jessica.fleetham@wsj.com)
(END) Dow Jones Newswires
January 02, 2025 04:37 ET (09:37 GMT)
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