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The US dollar strength keeps breaking records. Jobs data from December was better than expected. The dollar index went up to 109.99, the highest in two years. The euro and pound dropped to their lowest points in years. All this happened because the U.S. economy is doing well. Source: TradingEconomics Also Read: Cathie Wood’s Ark Invest Buys $8.6M of Amazon (AMZN) Stock How U.S. Dollar Strength Impacts Global Markets and Forex Trading Source: Watcher Guru Jobs Report Fuels Dollar’s Rally Source: BLS.gov The U.S. added lots of jobs in December. The jobless rate fell to 4.1%. This strong dollar impact changed how traders think about rate cuts. They now only expect one small cut in 2025. “With markets currently pricing in just over one rate cut by year-end, the reaction to the inflation print may be relatively measured,” stated Uto Shinohara, senior investment strategist at Mesirow Currency Management. Source: BLS.gov Global Currency Pressures Mount The euro went down by ...

The Central Banks of the majority of developing countries are now diversifying their allocations with gold and other local currencies. The U.S. dollar is facing scrutiny due to the $35 trillion debt that could wreak havoc on their native economies if the markets crash or enter a recession. BRICS countries are leading the pack in cutting ties with the U.S. dollar and reinforcing local currencies at the forefront. Also Read: BRICS: US Markets Could Face Substantial Losses, Analyst Declares The world reserves in the U.S. dollar are falling as Central Banks are looking at ways to end dependency on the currency. Read here to know how many sectors in the U.S. will be affected if BRICS ditches the dollar for trade. BRICS: The U.S. Dollar Global Reserves Fall to 59% Source: beincrypto.com The global reserves count of the U.S. dollar has now fallen to 59% in 2024, reported the Atlantic Council The U.S. dollar in reserves stood at 72% in 2002 and has been declining steadily in the last two decad...