Dollar on shaky ground as Fed rate cut bets strengthen

On Monday, the dollar saw a modest uptick, recovering ground following a three-week decline driven by speculations of imminent interest rate cuts by the U.S. Federal Reserve.

Concurrently, bitcoin surged beyond $42,000, marking its first breach of this level since early 2022.

The dollar index, gauging the currency against six major counterparts, registered a 0.59% increase, reaching 103.71, while the euro experienced a 0.61% dip, settling at $1.0815.

In the realm of cryptocurrencies, bitcoin reached its highest point since April 2022, surpassing $42,100, Reuters reported.

READ MORE: https://finance.yahoo.com/news/dollar-shaky-ground-fed-rate-014253405.html

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