The US dollar is trading at a near-14 year high and bond yields rose as investors forecast stronger inflation and higher interest rates amid expectations of expansionary fiscal polices under Donald Trump’s presidency.

Two days of selling last week wiped out more than $1 trillion across global bond markets, the worst rout in nearly 18 months, according to Bank of America Merrill Lynch.

Brent crude rose 1.6% to $45.14 a barrel, while US crude climbed 1.87% to $44.13 on expectations of falling shale output.

The FTSE 100 opened this morning up 28 points (0.42%) at 6,781.