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The Week In Numbers: Take Me Higher

The US dollar rose to a 14-year high against a basket of currencies. Positive comments from Federal Reserve Chair, Janet Yellen, boosted demand for the greenback. Yellen said the US economy is in decent shape and that the labour market was doing fine. And that’s even before President Elect, Donald Trump, has started spending on infrastructure.

The Down Jones Industrial Index came within a whisker 20,000 points. The US benchmark and tech-heavy NASDAQ hit all-time highs have been in buoyant mood since the 8 November Presidential election. The market is betting that Donald Trump will provide a boost to business. Let’s hope he doesn’t disappoint.

UK Prime Minister, Theresa May, said there will be an “implementation phase” for Britain to adjust to its new relationship with the European Union. There could be a transition period to sooth the process of leaving the EU. No cold turkey, then. It was unclear how this would fit in with Article 50, and the implications on negotiations with the European Union.

The Swiss Competition Commission has fined several banks for rigging benchmark interest rates. US banking giant, JP Morgan Chase, received the biggest fine. It will need to cough up US£33.1 million for colluding with Royal Bank of Scotland.

And finally, the Chinese have reportedly bought the iconic British raincoat maker Aquascutum. The embattled clothing company, which was saved from administration, is being sold for $97 million to Shangdong Ruyi Group, according to reports.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Director David Kuo doesn’t own shares in any companies mentioned.