Dollar index drops back from highest level since April 2003 - UOB

Analysts at UOB noted that the dollar rose as market participants piled bets on fiscal stimulus under a Donald Trump US presidency.

Key Quotes:

"Also stoking the dollar rally were growing expectations the Fed would raise interest rates next month on signs of rising inflation and improved economic growth. The dollar index (DXY) hit 101.48, its highest since early April 2003 before retreating, and is currently seen around the 101.18 region."