Currencies
Dollar Hits One-Year High as Trump Clinches Election Victory
- Surge in greenback pushes major currency peers lower
- Trump’s policies seen fanning inflation, keeping rates high
The dollar rose to the strongest level in a year as Donald Trump won the race for the US presidency, triggering a sharp rise in Treasury yields on speculation his policies would keep US interest rates elevated.
The greenback surged against all of its major counterparts as the rise in bond yields promised to pull cash into the US. The Bloomberg index climbed as much as 1.7%, the most in four years, hitting the highest since November 2023.