Wall Street sees US dollar rally widen as Trump enters stage

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Wall Street is forecasting even more gains for the greenback as a resilient US economy and dwindling expectations for interest-rate cuts from the Federal Reserve coincide with incoming president Donald Trump’s vows for harsh tariffs.

Goldman Sachs, TD Securities and Deutsche Bank are among the big banks whose currency strategists expect the US dollar to strengthen even more this year. The Bloomberg Dollar Spot Index rose on Monday for a fifth-straight session, though fell on Tuesday after Bloomberg reported Trump’s incoming economic team was considering gradual increases in tariffs.

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Bloomberg