Euro and pound rise against dollar amid ‘Trumpcession’ fears

US currency has lost all the gains it enjoyed since Trump won election and hits lowest level since mid-October

The euro and the pound have risen against the dollar to their highest level since the week of the US election, as the greenback sank against other leading currencies amid mounting Trumpcession" fears.

The European single currency rose by a cent to $1.093, breaching the $1.09 barrier for the first time since Donald Trump won the presidential race. Sterling hit $1.2956, its highest since 8 November, with both currencies strengthening after the US president escalated his trade war with Canada by lifting planned tariffs on metal imports.