The dollar kicked off the new year with its biggest daily jump since March as traders pared back bets on the scale of the Federal Reserve’s 2024 interest-rate reductions. The Bloomberg Dollar Spot Index closed higher by more than 0.7% on Tuesday as Treasuries and US shares dropped. It’s the greenback’s biggest one-day advance since the wake of regional banking turmoil more than nine months ago. The dollar outperformed some 31 major-currency peers tracked by Bloomberg. Such a euphoric start to 2024 comes after a rocky path last year, when the dollar’s performance was largely driven by speculation surrounding when — ... (full story)