Dollar Claws Back Some Ground; Bitcoin Breaks $41,000

dollar bills - The Japan Weeknd Magazine
LONDON/TOKYO—The dollar ticked higher on Monday, regaining some ground after falling for three straight weeks on bets that the Federal Reserve will soon be cutting interest rates, while bitcoin breached $41,000 for the first time since early 2022.
The euro was last down 0.1 percent at $1.0876, while the dollar index, which tracks the currency against six major peers, rose by 0.19 percent to 103.33.
“I think it’s the fact that U.S. policy rate expectations have gone too far and will unwind more in December than rate expectations elsewhere,” said Colin Asher, senior economist at lender Mizuho in London.
Last month the euro rallied 3 percent against the dollar and hit its highest since August at more than $1.10 as data showed U.S. inflation was cooling rapidly. The dollar index dropped 3.1 percent in November in its biggest monthly fall in a year….


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