Dollar Pushes to Six-Week Highs Ahead of Trump Tax Speech
The U.S. Dollar Index gained 0.47% to 93.40 in early trading Wednesday, Sept. 27, pushing the index to its highest level since Aug. 14, according to data from FactSet.
The greenback's gains come ahead of President Donald Trump's speech on tax reform expected Wednesday afternoon. Investors are watching for an outline of Trump's tax plans to go along with comments from Federal Reserve Chairwoman Janet Yellen's remarks Tuesday, Sept. 26, reaffirming expectations of a late-2017 interest rate hike.
The dollar index, which measures against six other currencies, has risen every day this week so far and gained in four of the last six sessions. It's been boosted by a weaker euro, which has been sliding this week following a narrower-than-expected victory for German Chancellor Angela Merkel on Sunday, Sept. 24.
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