The dollar rose to its highest level in two years and Wall Street was poised for big gains as Donald Trump’s historic victory in the US election sent investors around the world scrambling for a new trade tax regime and tax cuts.
The U.S. currency rose sharply against the euro, yen and pound on Wednesday as traders returned to so-called “Trump trades” on expectations that the president-elect’s plans for spending and taxes will lift stocks, boost inflation and slow the pace. of interest rate reduction.
Wall Street was also poised for strong gains at Wednesday’s open, with futures for the S&P 500 index up 2 percent and the Nasdaq 100 up 1.3 percent.
That’s from the FT. Bitcoin is up, and the VIX is down.
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