A resurgent US dollar is wreaking havoc across financial markets as traders brace for sweeping tariffs under president-elect Donald Trump which threaten to reignite inflation and keep interest rates higher for longer.
The Bloomberg Dollar Spot Index jumped to its highest since November 2022 on Tuesday (Wednesday AEDT), dragging the Australian dollar to US65.14¢ – just above the lows on the day Trump was elected and near a three-month low.
