USD at 9-Month High

The dollar rose to a nine-month high against a basket of major currencies on Monday, riding climbing US yields and seen to be at the cusp of a renewed bull phase following Donald Trump’s US election win, IOL reported. The dollar index was up 0.4% at 99.471 after touching 99.680, it’s highest since January 29. The greenback has soared on expectations that Trump’s administration would boost spending and lift inflation, which spurred an elevation of Treasury yields. The 10-year Treasury note yield rose to a 10-month high of 2.2% in Asia. The dollar was up 0.8% at 107.500 yen, having risen to 107.595, its highest since June 7. It had slumped to 101.190 on Wednesday in an initial reaction to Trump’s win. The euro was down 0.6% at $1.079 after touching $1.077, its lowest since early January. Against the Swiss franc the dollar gained 0.4% to 0.991 franc. The Australian dollar was little changed at $0.754 after seeing a one-month low of $0.752. The New Zealand dollar was down 0.5% at $0.709.