Dollar Posts Longest Winning Streak Since 2012 as Fed Hike Seen
- U.S. currency advances for 8th straight day versus euro
- Broad gauge of greenback advances to highest in nine months
What's Driving U.S. Dollar Strength?
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The dollar extended its winning streak against the euro to the longest since 2012 as forecasts for stronger U.S. economic data added to the momentum triggered by Donald Trump’s victory in the presidential election.
A broad gauge of the U.S. currency reached the highest since February as Federal Reserve Bank of St. Louis President James Bullard said the economy may get a medium-term boost from Trump’s policies. The greenback has been buoyed since the Nov. 8 vote by speculation the Republican’s proposals to increase spending and cut taxes will spur growth and inflation, nudging the central bank toward raising interest rates.