Thanks to President Trump’s promise to announce “something phenomenal on taxes in the next 2 to 3 weeks,” the U.S. dollar along with U.S. stocks and bond yields soared. For the past few days, forex traders have been waiting for a catalyst to take USD/JPY out of its tight 111.60-112.50 trading range and Trump’s comments were a gift to the bulls. These were the very same promises that drove the dollar sharply higher after the election so it is no surprise that investors were excited about their prospect. Does this remove the risk of a deeper correction in the U.S. dollar? No but it is a welcome distraction from the ... (full story)