Saturday, 14 January 2017

Donald Trump throws some cold water on the zooming dollar

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In a possible sign that the so-called Trump trade may be unraveling, the US dollar is wavering and analysts are less certain of where it will go. The US dollar index hit a one-month low Thursday after President-elect Donald Trump disappointed investors in a Wednesday press conference. Rather than discussing infrastructure spending, deregulation or tax cuts, Trump emphasized a tough position on trade and a border tax. 

"The market had priced in a very positive scenario of Trump: fiscal policy without trade protectionism," said Athanasios Vamvakidis, a European currency strategist in Europe for Bank of America Merrill Lynch.

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