Fed Unlikely to Let Strengthening Dollar Derail Rate Hike

Aside from a rally in stocks, the U.S. dollar surged following Donald Trump's victory, rising to an 11-month high on Monday. But that's not going to prevent the Fed from raising interest rates, according to one expert. "I don't think they're necessarily going to look towards the dollar as the key instrument to stop them from raising rates," said Josh Mahony, a market analyst with IG Markets in London, adding that the Fed can't control the dollar and delaying its next hike by a few months wouldn't accomplish much. TheStreet's Scott Gamm reports from Wall Street.