Dollar Hits Highest Level in More Than 4 Months After Trump’s Election Victory

The incoming administration’s plans for looser fiscal policy and tighter immigration policy make a strong case for a dollar rally, ING Bank said.

U.S. dollar bills in Washington, on Oct. 4, 2024. Madalina Vasiliu/The Epoch Times

The U.S. dollar reached a four-month high following former President Donald Trump’s election win, driven by investor optimism about the incoming Republican administration.

On Nov. 6, when Trump declared victory, the U.S. dollar index rose by 1.34 percent. It surged in the following days, reaching a peak of 106.18 on Nov. 12, surpassing the high reached on June 26.