US Dollar Continues To Rise To Reach All-Time Peak in 9 Months
The aftermath of the election of Donald Trump proves to be good for the US dollar. The yields of US bonds continues to increase and it has reached a peak value since January. Against major currencies, the US dollar rose to an all-time high in the past 9 months. The renewed bullish phase of the currency is the result of the announcement of the president-elect Donald Trump.
The US dollar index reached 99.680 which is the highest value since 29th January. The index settled down at 99.471 after exhibiting an increase of 0.4%. During the election campaign, Donald Trump talked heavily about spending more to overcome inflammation. This also resulted in a sudden increase of the yields of Treasury bonds and notes. The 10-year Treasury note experienced a 2.2% increase and it rose to its highest value in 10 months.
Experts predicted that the result of the election would result in an increase in the dollar value. However, economists comment that the rise in the value of US dollar is climbing at a faster rate than expected. The new administrative rules have set the market in the bull phase. The Yen which was considered a safe haven some days ago lost its significance compared to the US dollar. The equity markets enjoy the risk aversion attitude of the investors. Forex strategists recommend the traders to ride on the US dollars until definitive policies are announced by the Trump administration.
TOP LIVE WEBINARS