The U.S. dollar has surged to a one-year high, driven by renewed investor confidence in the “Trump trade”. This momentum reflects expectations of inflationary policies under President-elect Donald Trump, including tax cuts and increased tariffs, which are anticipated to stimulate economic growth. Consequently, the dollar’s strength has overshadowed the Federal Reserve’s recent rate cuts, as markets anticipate a potential shift toward tighter monetary policy to manage rising inflation. This dynamic underscores the complex interplay between fiscal initiatives and monetary strategies in shaping currency valuations.
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