President Donald Trump speaks at a news conference in the James Brady Press Briefing Room at the White House, Monday, Aug. 31, 2020, in Washington. (AP Photo/Andrew Harnik)
The USD has today surged the most in two years following Donald Trump’s presidential election victory.
This has been attributed to Trump’s promise to raise tariffs and cut taxes.
For emerging markets, a stronger dollar means foreign debt repayments and imports get more expensive
With USD stronger, commodities, including gold, are today under pressure, affecting gold producing economies.
Gold has recently touched record highs.
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