The US dollar prevails this is supported by rising yields  

The US dollar index settled near 108 levels on Monday, supported by rising US yields amid anemic year-end trading, as the US dollar this month touched its highest level in more than two years after the Fed cut interest rates but signaled a slowdown in the pace of monetary easing next year.

Where the dollar disappointed the pessimists, there was almost a global consensus on the weakness of the US dollar in 2024, but the US dollar dominated everyone, and will close the year high against all major currencies, reaching its gains this year so far to 6.6%.

USDJPY

The Japanese yen is still trading at five-month lows against the dollar, as the meager liquidity at the end of the year kept most currencies trading in narrow ranges. With the threat of Japanese intervention to prevent another test of the 160 level, which the pair skipped last July.

EURUSD

The euro settled at 1.0425 dollars, not far from its recent lows, as the currency is heading for an annual decline of about 5.5% against the US dollar.

US10Y

The rise in US Treasury bond yields provided further strength to the US dollar, as the benchmark 10-year Treasury bond reached its highest level in more than seven months last week, and on Monday it was still hovering near these high levels.

BTCUSD

The leading cryptocurrency bitcoin also fell near 93 thousand dollars, falling by about 4% during the month after retreating from its record high near the levels of 108 thousand dollars, which it recorded on December 17.

However, the cryptocurrency has been the favorite this year and has risen by about 115% so far.