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By Mike Dolan LONDON, Nov 12 (Reuters) - Wasn't surging inflation supposed to undermine the U.S.
dollar? Be that as it may, the opposite happened this week as news of a surprise spike in U.S. inflation and inflation expectations to their highest in decades sent the U.S. dollar soaring against currencies around the world. The dollar's main index zoomed to its highest for the year as the euro and sterling, which make up 58% and 12% of that index respectively, slumped to 2021 lows. For some, dash crypto prediction this made little sense. There's a long-standing narrative out there that over-easy Fed money and seemingly endless creation of new dollars via Fed bond buying will eventually fuel inflation and undermine the greenback as the kingpin of the world financial system.

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