Market News
Dollar hits one-year high on Trump trades - REUTERS
- Bitcoin surges to new all-time peak
- Yen drops below 155 per dollar
- Euro falls to one-year low
- Dollar index hits highest since November 2023
NEW YORK, Nov 13 (Reuters) - The U.S. dollar advanced to one-year high against major currencies on Wednesday powered by so-called Trump trades and after U.S. inflation for October came in as expected, suggesting the Federal Reserve will continue lowering interest rates.
The greenback hit its highest level since November 2023, buoyed by Donald Trump's victory in last week's U.S. presidential election, which sparked expectations of potentially inflationary tariffs and other measures by his incoming administration.
