At most for the time being, we might get 10% tariffs on Chinese imports. However, that's a far cry from the supposed 60% tariffs he was touting during his campaign.
In any case, the tailwind that the dollar had since December has officially switched sides. The greenback felt like it had the Trump card, literally speaking, in the game coming into the turn of the year. But did it really?
proclaims to "know interest rates better than the Fed" and wants rates to be cut "immediately".
That will help with regards to inflation fears but we might have to wait a few more months to be more assured of that. And Fed policymakers would surely prefer that as well. After all, you never know when Trump might suddenly change his mind in all of this.
But for the time being at least, it looks like the dollar just got Trump-ed to start the new year. With tariff fears abating, the emphasis will switch back towards inflation and labour market data to see how things progress from here.
This article was written by Justin Low at www.forexlive.com. Read More Details
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