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Trumps Protection Bias Damages Dollar
The ‘mighty’ U.S. dollar remains under pressure across the board since Trump’s inauguration speech on Friday still did not provide investors with clarity on his tax reform and fiscal spending plans – the speech reiterated protectionism, a word that global investors fear. President Trump has begun work aiming to place American interests at the forefront of his agenda, a winning campaign promise that’s helped since November to support U.S equities, the dollar and bond yields. With the market requiring more clarity, investors continue to unwind many of their “Trump trades” believing that the asset moves ... (full story)