MARKETS: US dollar jumps to highest value against other currency in a year in key index Marketwatch reports as European stocks higher in midday trading; Stoxx Europe 600 index up 0.2% – WSJ – @AceFinanceNews

#AceFinanceNews – Nov.14: A key dollar gauge leapt to its highest in nearly a year Monday, as investors priced in policy shifts expected to be undertaken during Donald Trump’s presidency in the U.S.

US markets (open): DJIA 18876.77 (+29.11), S&P 500 2165.64 (+1.19), NASDAQ 5246.33 (+9.22), NYSE 10652.24

The U.S. Dollar Index DXY, +0.52% , which tracks the greenback’s performance against six other currencies, hit an intraday high of 100.51. That was its strongest level since late November 2015, FactSet data showed. Later, the gauge moved to 99.81, up 0.6% from late Friday in New York.

The index was on its way toward a sixth-straight gain, and that would mark its longest win streak since a six-session run early May.

The “U.S. dollar is looking like a freight train rolling over anything that gets in its way,” as “the world continues to obsess over Donald Trump’s victory and his high-profile appointments to key positions in the White House,” said Nawaz Ali, currency strategist at Western Union Business, in a note.

Traders are moving quickly to price in prospects of higher U.S. government spending, higher inflation prospects, and consequently higher U.S. interest rates to compensate for this major shift in sentiment,” he said.

European Stocks, U.S. Dollar Rise as Post-Election Rally Continues
// WSJ

European markets and the U.S. dollar ticked up again Monday, adding to the rally that followed last week’s U.S. election, as the selloff in bond markets continued.

The Stoxx Europe 600 index was up 0.2% shortly before noon in London.

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