Dollar's best year since 1997, further rise likely

New York

THE US dollar ended 2014 with a gain of nearly 13 per cent against a basket of major currencies on Wednesday, its strongest year since 1997 and, according to most major banks, just a prelude to a further rise next year.

Traders favoured the dollar as the year's winning bet heading into the New Year and pushed the euro to a fresh 29-month low against the greenback of US$1.2098, just below a closely watched US$1.21 technical level.