World stocks rose to a whisker off all-time highs on Wednesday and the dollar rose for the 11th straight day following Federal Reserve Chair Janet Yellen's flagging of a possible interest rate rise next month.
The dollar hit a two-week high against the yen on Monday as investors focused again on the U.S. reflation trade which dominated the aftermath of Donald Trump's election in November but has stalled this year.
The dollar hit its highest level in 10 days against the yen ahead of a meeting of the U.S. and Japanese leaders on Friday, putting it on course for its best week against a basket of major currencies since mid-December.
The dollar will resume its upward climb in the coming year, but extreme near-term moves in either direction are possible, driven more by U.S. President Donald Trump's expected fiscal stimulus than by his words, a Reuters poll found.
Trading volumes in the dollar and a handful of major currencies surged to up to 10 times annual averages as the first signs of Donald Trump's victory in U.S. presidential elections emerged on Wednesday, data from settlement system CLS showed.
The dollar steadied after initial losses on Tuesday as investors bet on victory for Hillary Clinton in the U.S. presidential election that would avert a widely predicted slide for the greenback if rival Donald Trump were to win.