U.S. Dollar Rises to Two-Month High as Fed Eyes Modest Rate Cuts
The U.S. dollar reached its highest level in over two months on Tuesday, buoyed by expectations that the Federal Reserve will proceed with modest interest rate cuts in the near future. Traders are anticipating smaller cuts from the central bank, shifting the currency landscape and pushing the dollar to new heights against its major rivals. Meanwhile, the yen inched closer to a key psychological threshold, reflecting the diverging monetary policies in Japan and the U.S.