Currencies: Dollar inches up as market keeps a close eye on Trump’s economic plans

The dollar gained slightly on Tuesday as speculation of stronger U.S. growth and higher interest rates continued to support the U.S. currency.

Many market participants are awaiting tangible, effective economic policies from the Trump administration starting next year before pushing up the dollar further.

Read:How politics rocked the currency market in 2016

Some market participants are also paying attention to any comments from President-elect Donald Trump on the dollar’s recent ascent because the dollar’s strength damages competitiveness of U.S.-based manufacturers.

Any comments from him expressing concerns about the dollar’s rise could trigger a selloff, although that scenario doesn’t appear imminent.

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