After initial losses, the dollar is up against all of its major trading counterparts after Republican Presidential candidate Donald Trump seized a victory against Hillary Clinton. After the initial uncertainty passed, the market woke up to the possibility that a Donald Trump presidency could easily mean a more hawkish Fed.

Throughout the campaign, Mr. Trump has accused the Federal Reserve of playing politics by keeping the interest rates at record low. He suggested that lower interest rate from the Federal Reserve has led to bubbles in the financial system. During the campaign, speaking to CNBC, Mr. Trump suggested that Ms. Yellen is not a Republican and he is likely to replace her as the Federal Reserve governor. Ms. Yellen is one of the dovish members of the Federal Reserve and has been one of the key architects of Fed’s bond buying policy.

As President, Mr. Trump will have the power to nominate all members of the central bank’s board of governors to 14-year terms. He will also have the power to appoint Federal Reserve chair and vice-chair to four-year terms. However, none of the governors unlikely to be removed from office until their term expires as they can’t be removed based on their policy views.

The dollar index, which remains upbeat after a Trump victory is currently trading at 98.66, down 0.2 percent so far today. If you are looking to trade the dollar on an intraday basis, You can check out the news currency indexes from FxWirePro here, http://www.fxwirepro.com/fxwire/currencyindex  read more on them here, http://fxwirepro.com/currencyindex