Bitcoin is headed for a correction as the dollar’s rise is starting to fade

The U.S. dollar rose to a six-month high Thursday against a basket of currencies, setting a record high in one of the biggest markets in the world.

The currency climbed nearly 1 percent to 96.839 to the greenback, its highest level since Nov. 3.

The dollar rose more than 8 percent against the Japanese yen, its biggest gain since Feb. 2.

The U-shaped pattern in the dollar chart is expected to continue as the U.K. and the European Union begin negotiations on their own currency unions.

The British pound has fallen as much as 6 percent since the Brexit vote.

The euro has weakened against the dollar.

The yen has fallen 2.5 percent against a broader basket of major currencies, and the dollar has gained more than 4 percent.

The pound is trading at around $1.0619.

“I think the U-shape of the chart will continue to be the most important determinant of how the dollar will perform over the next six months,” said Michael Greenstone, chief market strategist at UBS Investment Bank.

“We will see a gradual return of the U shape of the dollar after the first few months.

It’s going to take some time to get to full recovery, but it’s going, it’s already done its work.”

The dollar gained about 6.3 percent in one day, a fresh record high.

The Dow Jones Industrial Average rose 2.4 percent, while the S&P 500 gained 2.7 percent.

U..

S.-listed stocks rose 1.3 points to 2,569.62.

The Nasdaq composite gained 1.6 points, while technology shares rose 0.7 points, helped by strong consumer spending.

The S&amps S&p 500 added 0.3.

The index closed down 0.1 percent.

On Wall Street, the S.&amp.

Dow Jones industrial average fell 3.6 percent.

Russell 2000 rose 1 percent, and MSCI’s index of stocks climbed 0.6.

The Standard & Poor’s 500 index of small-cap stocks dropped 0.4.

The Russell 2000 closed down 1.9 percent.

“The market has been on the rebound, and I think that will continue in the next few months,” Mr. Greenstone said.

The Federal Reserve on Thursday cut its forecast for the economy to 3.5 million jobs by the end of 2019, from its current 3.7 million.

The Fed will start the next round of stimulus next month, the first of which will target the manufacturing sector.

The economy added only 0.5 of a percent in November, according to data from the Labor Department.

Economists polled by Reuters had expected the economy would grow 3.4 million in the year through June.

The number of Americans filing for unemployment benefits fell to a record low in November after a slight increase in the previous month.

The labor market remains healthy, despite the drop in the unemployment rate.

The unemployment rate is below 4 percent, but that’s down from 6.9% in March.

The headline measure of unemployment increased to 4.7% from 4.6% a month ago.

The weekly jobless rate rose to 62.5 from 62.1.