Dollar rallies as fiscal spark seen in Trump win

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.