The dollar held a nine-day advance against the euro, its longest winning streak since the shared currency’s debut in 1999. The U.S. currency touched its strongest level in almost a year, driven by expectations for U.S. President-elect Donald Trump’s reflationary economic policies and a reinforced view that the Federal Reserve will raise interest rates in December.
It has appreciated over the past two weeks as Treasury yields surged on speculation the new administration will boost spending. Fed Chair Janet Yellen suggested Thursday the central bank remained on course to tighten policy. European Central Bank President Mario Draghi said the recovery in the euro-area economy depends on continued monetary support. FULL REPORT