The U.S. dollar rose during Tuesday’s trading, nearing its highest level in four months, supported by trading activity tied to Donald Trump’s victory in the U.S. presidential election and expectations that his administration’s policies will strengthen the local currency.
The dollar index—which reflects the value of the U.S. dollar against a basket of six major currencies—increased by 0.14% to 105.69 points as of 09:21 AM Mecca time.
This follows Monday’s session, where the index reached its highest level since July 3 at 105.70 points, maintaining its positive momentum in the week following the U.S. election.