Trump's Treasury Secretary Search Sends Dollar Climbing to New Heights

The U.S. dollar gains momentum as investors closely monitor President-elect Trump's search for a Treasury secretary. The possibility of Kevin Warsh being appointed boosts Treasury yields, affecting financial markets. The dollar index rises, supported by anticipated Trump policies and fluctuating global market conditions.

The U.S. dollar rose on Tuesday, nearing its one-year high, amid growing anticipation surrounding President-elect Donald Trump's choice for the Treasury secretary, with the list of candidates expanding.

Kevin Warsh, seen as a less protectionist candidate, is among those considered, stirring intra-day Treasury rallies as investors react to the changing prospects.

Market expectations of tax cuts under Trump have fueled the dollar's rise, as investors speculate on potential policy impacts. As global markets shift, the euro and yen experience downturns, impacting regional economic forecasts.

(With inputs from agencies.)