Dollar rallies as fiscal spark seen in Trump win
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New York
THE consensus in the US$5.1 trillion-a-day currency market couldn't have been more wrong.
The widely held view was that a victory by Donald Trump in the US presidential election would spur a dollar rout as investors anticipated uncertainty and financial-market volatility that would cause the Federal Reserve to delay interest-rate increases. Yet the real estate magnate's upset win triggered the opposite reaction - a bonanza for greenback bulls and one of the most stunning rallies since the financial crisis.
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