Greenback clings to 13-1/2-year peak
On Wednesday, the evergreen buck hovered close to a recent 13 1/2-year high, taking a breather after soaring on expectations that American interest rates will ascend further than earlier anticipated on prospects of increased fiscal stimulus under a Trump administration.
Against a basket of six key currencies, the greenback last traded at 101.05. It leapt from Tuesday's minimum of 100.65 and also not too far from Friday's peak high of 101.48, that turned to be the highest value for the dollar index since April 2003.
Data on Tuesday disclosed that in October, American home resales added to their highest level in more than 9-1/2 years, thus helping to back the greenback.
Still, one factor, which has blunted the greenback’s momentum this week is a pull-back in benchmark American 10-year Treasury yields from recent peaks.
The greenback’s ascend to the near six-month peak against the Japanese yen amounted to a revenue of 10% from its November 9 drop near 101 yen.
The euro stood still at $1.0623, having reached a near one-year minimum of $1.0569 last week.