The US dollar surged again on Thursday after the Fed raised rates for the second time, and also raised the forecasts for next year. It’s now up 6% since before the US election.
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This is the big story in global financial markets now: will the greenback keep going up and force the Fed to hold back on further hikes? Or will the Trump stimulus and reflation, which is what is driving it, disappoint when reality mugs the President after Inauguration Day?
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