The US Dollar has had a great month of November, so far. Not only has the Greenback gained over 5% versus the Yen and 3% versus the Euro, but the USD Index has recorded its best two-week performance in 20 years. The USD Index has traded higher for ten consecutive sessions and gained just over 4.25% to reach the highest level since 2003 at 101.25.
Investors are anticipating a very pro-business bias from the new US administration, featuring across the board tax cuts, deregulation and a comprehensive infrastructure stimulus package. However, the inauguration of President Trump is still more than two months away and it’s reasonable to expect the USD, US Stocks and US yields to take pause after the recent rallies.
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The Dow Jones 30 set a new record high at 19,023
