From Dow Jones & Company Inc.:

The U.S. dollar has had a strong start to 2024, climbing about 2.1% so far this year, according to ICE U.S. Dollar Index. However, analysts believe the greenback is likely to depreciate over the year. Recent scaling back of expectations for Federal Reserve rate cuts and no anticipated recession this year will likely lead to depreciation in the second half of 2024. The Federal Reserve’s anticipated rate cuts in March will likely negatively impact the dollar, while historical data suggests that the ICE U.S. Dollar Index’s performance has been mixed following previous rate cut cycles. Market economists anticipate the dollar to face headwinds from strong global markets and falling U.S. bond yields over the year, remaining rangebound against most major currencies for most of 2024.



Read more: The U.S. dollar had a strong start to 2024. Here’s why it’s unlikely to last.