The US dollar has updated a 14-year high

The dollar rose against other currencies on Wednesday, as the release of upbeat US data on orders for durable goods added optimism about the US economy and increasing rates in the US, which is expected next month.
The US Department of Commerce report said that orders for durable goods rose 4.8% last month, surpassing expectations for an increase by 1.5%.
Basic orders for durable goods (excluding transport) have increased in the last month by 1%, much higher than the forecasted increase of 0.2%.
On a less positive note, there was a report the US Department of Labor, which showed that the number of initial applications for unemployment benefits for the week ended November 19 increased by 18,000 to 251,000 from 233,000, recorded in the previous week (initially 235,000). Analysts had expected, that the number of applications will increase by 15,000 to 250,000 last week.
The dollar was supported against the background of expectations that the presidency of Trump would increase budget spending and tax cuts, which, in turn, will contribute to the acceleration of economic growth and inflation.
Accelerating economic growth and inflation will allow the Fed to continue tightening of monetary policy.
Dollar rally was also triggered by rising expectations that the US central bank will raise rates at the meeting on 13-14 December.
Late last week, the chairman of the Federal Reserve Board of Governors Janet Yellen said that the rate increase "is expedient in the near future."
The EUR/USD fell by 0.50% to a new 11-month low at 1.0546.
USD index, which shows the relationship of the US dollar against a basket of major currencies, rose by 0.49% to 101.59, updating the 14-year high.