Ulrich Leuchtmann, head of FX and commodities research at Commerzbank, said in a note that the dollar's strength since the US Presidential Election suggests investors believe President-elect Donald Trump's policies will further benefit the dollar. The dollar has appreciated by an average of about 2 per cent against other G10 currencies since the election, Leuchtmann said. "The market seems to believe that'Trumponomics' [the policies of the incoming Trump administration] will have a significant positive impact on the value of the dollar." The dollar index hit a two-year high above 108 late last week before retreating somewhat and is now down about 0.2 per cent at 105.888.