Dollar at one-year high as Trump trade momentum eclipses Fed easing view

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Dollar at one-year high as Trump trade momentum eclipses Fed easing view - Channel News Asia

Quick Summary:

TOKYO : The U.S.dollar revisited a one-year high against major peers on Thursday, as a fourth straight winning session from momentum sparked by Donald Trump's election victory eclipsed a rise in bets for Federal Reserve easing.

Higher trade tariffs and tighter immigration under the incoming Trump administration are projected to fuel inflation, potentially slowing the Fed's rate cutting cycle longer term.

"The USD is a magical currency backed by carry, momentum, growth differentials, (and) impending fiscal and tariff kickers," said Chris Weston, head of research at Pepperstone.