Dollar jumps to 11-week high
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The dollar reached an 11-week high on October 18, 2024, following a 0.4% increase in US retail sales for September, surpassing the expected 0.3% rise. The dollar index rose 0.16% to 103.70, peaking at 103.87. The euro fell to $1.0834, and the yen weakened to 149.76 per dollar. Fed Chair Jerome Powell indicated a less dovish stance on rate cuts, with traders now anticipating 44 basis points of cuts by year-end. Analysts predict a Trump administration could introduce tax cuts and tariffs, impacting the dollar's strength. Matthew Landon from J.P. Morgan noted the euro's vulnerability amid a weak economic outlook in Europe.

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https://www.brecorder.com/news/40327688/dollar-jumps-to-11-week-high