Dollar stands tall in 2024, propped up by cautious Fed, Trump trade

The dollar was firm on the last trading day of the year, poised to clock strong gains in 2024 against most currencies as investors prepared for fewer U.S. rate cuts and the incoming Trump administration's policies. Japanese markets are closed for the rest of the week, and with most markets closed on Wednesday for the New Year's Day holiday, volumes are likely to be razor thin. The index has risen 6.6% in 2024 as traders cut back on bets of deep rate cuts next year.