Strong US dollar could challenge Trump agenda

US currency has been on an upward trajectory since President-elect Donald Trump's win amid expectations he will push policies that could unleash higher growth and inflationThe strong US dollar, boosted further by the Federal Reserve’s decision to raise interest rates, could pose challenges to President-elect Donald Trump’s economic agenda. The greenback shot to fresh multi-year highs against the euro and other currencies Thursday following the Fed’s move Wednesday to increase the benchmark lending rate and its signal about additional rate increases in 2017. The US currency already had been on an upward trajectory after Trump’s election, amid expectations he will push policies that could unleash higher growth and inflation, leading to more interest rate hikes.

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