TOKYO (Reuters) -The U.S. dollar held below a 6-1/2-month peak against major peers and bitcoin edged further off record highs on Wednesday as markets hit pause on so-called Trump trades ahead of key U.S. inflation data later in the day. The dollar is ...

The US dollar rose to its highest level since April 16, fueled by Donald Trump’s victory in last week’s U.S. presidential elections. The dollar index rose 0.33 per cent to 106.34 after hitting as high as 106.

The U.S. dollar pulled back from a 6-1/2-month high against major currencies on Wednesday after data showed U.S. inflation for October increased in line with expectations, suggesting the Federal Reserve will keep cutting rates.

The U.S. dollar advanced to one-year high against major currencies on Wednesday powered by so-called Trump trades and after U.S. inflation for October came in as expected, suggesting the Federal Reserve will continue lowering interest rates.