Gains for the greenback

Bloomberg calculates that the U.S. dollar made its biggest gain last year in nearly a decade. And it starts 2025 with some momentum for further gains, continuing a rally that started in early fall when the Federal Reserve started cutting U.S. interest rates amid persistently strong economic growth. Also, Amazon’s RTO push is hampered by a lack of office space, and more Texans turn to microgrids for energy resilience.