The US dollar reached a 13-year high on Wednesday boosted by rising bond yields, as well as expectations of an interest rate hike by the Federal Reserve and increased fiscal stimulus from President-elect Donald Trump.
According to the Wall Street Journal, the ICE Dollar Index rose to 100.57, its highest level since April 2003. This index tracks the dollar against six of the world's major currencies. The dollar is currently trading at $1.24 against sterling and $1.07 against the euro, the euro's lowest level since December 2015. The industry is hopeful that Republican control of the House of Representatives and the Senate will make it easier for Trump to push through his policies of fiscal expansion, further boosting the dollar and the US economy. Meanwhile, rising government bond yields in the ...
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