Dollar Index Surges to 14-Year High
Dollar Index Surges to 14-Year High

Dollar Index Surges to 14-Year High

Dollar Index Surges to 14-Year High

The dollar soared to its highest since April 2003 against a basket of currencies on Wednesday, reaching its strongest in a year against the euro as major banks and investors debated the possibility of another move toward euro-dollar parity.
After a week-long rally driven by the post-election surge in US bond yields, some of the major banks have been sounding more cautious on the dollar's immediate prospects, Reuters reported.
But fueled by expectations of an inflationary push from the administration of President-elect Donald Trump that would spur more rises in Federal Reserve interest rates, it advanced past $1.07 per euro for the first time since the start of December 2015.
It also rose 0.5% against the yen to its highest since June 1, pushing the dollar index up another 0.3% to 100.53. It has gained almost 3% since Trump's election victory just over a week ago.

Short URL : https://goo.gl/kPdxbQ
  1. https://goo.gl/v2OWG1
  • https://goo.gl/wwrqjB
  • https://goo.gl/Ezjtz9
  • https://goo.gl/REovc0
  • https://goo.gl/p4yF1u

You can also read ...

Westinghouse Electric, the leading US nuclear fuel producer, said it relies on China for zirconium and zirconium powder  for use in nuclear fuel assemblies
A broad cross-section of US businesses has a message for the...
UK Business Pessimism Rising
Business leaders’ confidence in the British economy has fallen...
Budget Blowout a Hard Sell for Italy
Italy’s populist government has big plans for its first budget...
Asian Countries Vie to Set Up Crypto Valleys
The race to establish cryptocurrency hubs in Asia is gathering...
Turkey, Qatar in Currency Swap Deal
The central banks of Qatar and Turkey signed a currency swap...
Argentina Lacks Options to Defend Peso
With interest rates sky-high and the economy heading for...
Irish Economy in Post-Recovery Stage
The economy is in a strong position and has moved into a post-...
International Labor Organization has called for stronger...

Add new comment

Read our comment policy before posting your viewpoints