REFILE-BUZZ-COMMENT-Dollar has a flying start to 2025, as expected
Fixed typo on first line
Jan 3 (Reuters) - The U.S. dollar continues to soar in 2025 as seasonal, technical and fundamental factors combine to fuel demand for the currency.
The dollar has jumped at the start of January, building on last year's strong gains on expectations U.S. growth will beat peers and keep U.S. interest rates relatively elevated.
The USD index, which tracks the greenback against a basket of six major currencies, has risen in January in 15 of the past 25 years. January has already seen the index break above the major 108.962 Fibo, a 61.8% retrace of the 114.78 to 99.549 (2022 to 2023) drop, unmasking the 110.00 psychological level.
Speculative dollar long positions have continued to grow, highlighting expectations that the greenback looks set for even bigger gains.
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(Martin Miller is a Reuters market analyst. The views expressed are his own)
((martin.miller@thomsonreuters.com))
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