Trump Tax Talk Reinvigorates Dollar to Gains Against Most G-10 – 9 Feb, 2017
The dollar was trading near its session high after President Trump told airline officials that there will be some news on the tax front in the next two to three weeks, reviving optimism that fiscal stimulus could juice the U.S. economy and reigniting the recently stalled “Trump trade.”
The Bloomberg dollar index was up ~0.25%, with gains paced by dollar-yen, which surged more than 1% to a high of 113.30, extending its rise from the weekly low of 111.60. Treasury yields gained and the Dow Jones Industrial Average rose to a record after Trump’s comments.
Dollar-yen remained near its session high, with gains spilling into other currency pairs, after White House officials said that currency manipulation was not at the top of the list of discussion topics for the president and Japan PM Shinzo Abe, who will meet Friday in Washington.
The dollar was trading near its session high after President Trump told airline officials that there will be some news on the tax front in the next two to three weeks, reviving optimism that fiscal stimulus could juice the U.S. economy and reigniting the recently stalled “Trump trade.”
The Bloomberg dollar index was up ~0.25%, with gains paced by dollar-yen, which surged more than 1% to a high of 113.30, extending its rise from the weekly low of 111.60. Treasury yields gained and the Dow Jones Industrial Average rose to a record after Trump’s comments.
Dollar-yen remained near its session high, with gains spilling into other currency pairs, after White House officials said that currency manipulation was not at the top of the list of discussion topics for the president and Japan PM Shinzo Abe, who will meet Friday in Washington.
Source: Bloomberg