dollar: Analysts had predicted a rout in the greenback after a Trump victory as the Republican candidate may cause more instabilities in financial markets than his Democratic counterpart Hillary Clinton, who was seen as more predictable and was expected to follow President Barack Obama steps in regulating the financial sector, according to Global Times China. The dollar index slumped more than 1 percent on Tuesday election night as the presidential race tightened. The dollar index, which tracks the greenback against six major peers, was up 1.05 percent to 100.100 in late trading on the day, the highest in 11 months and also the first time to exceed 100 this year. It then pared losses and increased for four consecutive sessions till Monday. He added that the rate move reflects Trump election and expected a policy shift to lower taxes and more spending leading to higher growth and inflation. The dollar rally is connected to US interest rates going up, said Robert Savage, CEO of CC Track Solutions, in an interview with Xinhua on Monday.
(news.financializer.com). As
reported in the news.
Tagged under dollar, index topics.