Dollar Surge Amidst Global Currencies and Political Uncertainty

The dollar strengthened as U.S. President-elect Donald Trump called for BRICS countries to avoid new currencies, threatening tariffs otherwise. The euro and yuan weakened amid global economic uncertainties, while market focus turns to the U.S. economic outlook and potential Federal Reserve rate cuts.

The dollar surged to new highs on Monday as U.S. President-elect Donald Trump warned BRICS countries against introducing new currencies. This marks a significant policy shift as global markets watch closely for potential trade implications.

Amidst political turmoil in France and broader economic concerns, major currencies like the euro and Chinese yuan weakened significantly. The dollar index rose, ending November with notable gains despite prior setbacks.

All eyes are now on upcoming U.S. economic data, including the November payrolls report, which could influence Federal Reserve's future interest rate decisions. With the jobless rate and market pressures mounting, analysts predict a cautious yet favorable outlook for the dollar heading into 2025.

(With inputs from agencies.)