The Wall Street Journal

Why the Dollar’s Epic Rally Could Have a Little Further to Run

Key drivers in 2025 are likely to be Trump’s policies and their impact on inflation and the Fed’s stance on rates

Why the Dollar’s Epic Rally Could Have a Little Further to Run
Photo: Elizabeth Coetzee/WSJ

The U.S. dollar is entering the new year on a high—and most signs point to more strength ahead.

The currency is a key beneficiary of U.S. exceptionalism. The American economy is growing faster than most, with Europe stuck in a manufacturing rut and China struggling to contain the fallout from its property meltdown.

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