The U.S. dollar has risen to a fourteen-year high compared to six other currencies, including the euro and the yen. The dollar index has recently increased to 103.560, which makes for the largest surge within a six-month period.
The dollar held its own against the yen rising to 0.9 percent, bringing it to 118.11 yen, before rising again to 1.4 percent, 118.66 yen. The euro, however, has fallen 1.2 percent. It is expected that the euro equal the dollar around the third quarter of 2017.
This gain in the dollar’s index comes shortly after interest rates have risen for the first time in almost a year. The dollar’s rise is estimated to be due to President-elect Donald Trump’s administration’s promises of economic growth in the coming years. There will also be an increase the interest rate at least three more times throughout the year of 2017.