Dollar benefits when $ 2.5 trillion in overseas cash is returned

A portion of the $ 2.5 trillion in profits generated by companies like Apple Inc. and Microsoft Corp. held overseas could return to the US, a move that analysts say could fuel the strong rally in the US dollar.

US companies have kept billions of dollars in revenue and cash overseas to avoid paying a 35 percent tax that would be levied if the money was brought home. President-elect Donald Trump has announced that he will propose a one-time reduction in the repatriation tax to 10% to attract money back to the US that can be spent on hiring, business development and funding Mr Trump’s economic stimulus proposals.

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