The dollar reached its highest level since July, driven by U.S. elections developments, especially with Trump leading the presidential race, which strengthened confidence in the currency.
A unified Republican government, controlling the White House and potentially the Senate and House, raises expectations for implementing fiscal reforms that could further boost the dollar.
As U.S. yields rise across maturities, the 10-year climbing to 4.4 percent reflects investor anticipation of an expansionary fiscal policy that could amplify inflation fears.
The upcoming speech by Fed Chairman Jerome Powell is pivotal; a dovish tone may halt the dollar's rally, while hawkish remarks would likely solidify its strength.
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