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Dollar Index: Weekly Analysis & 2023 closing

The dollar closed out its worst year since the onset of the pandemic as Wall Street ramped up bets that the Federal Reserve is set to lower interest rates in 2024.

After being whipsawed by false starts calling for the end of the Fed’s rate hiking regime, a Bloomberg gauge of the greenback tumbled 2.7% this year in the steepest annual drop for the US currency since 2020.

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