Yesterday, the US dollar recorded its largest single-day gain in eight years. It happened the day after Donald Trump’s victory, which was so decisive that it avoided any of the scandals that accompanied the election four years ago. In brief, the future now looks like this: inflation in the US will pick up steam, while economic growth outside its borders will likely lose momentum.
As a result, the Federal Reserve may slow down on rate cuts, while the European Central Bank could speed up with rate cuts. However, until Trump’s inauguration on January 20, the president-elect might hold back on his “America First” promises.
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