Once more Donald Trump has driven market direction. However, this time for the dollar, it was less about what he said and more about what he did not say. Trump has been the catalyst for a correction on Treasury yields and the dollar which is impacting across forex and commodities. In his first formal press conference since his acceptance speech back in November, markets were looking for some further clarity over his spending plans, the prospect of which had previously provided such rocket fuel for Treasury yields and hence the dollar. Subsequently, markets were left in limbo and Treasury yields have fallen away, with the two year yield back towards 1.15% the lowest since mid-December (well down from the 1.30% high) and the 10 year yield below 2.32% and the lowest since the end of November (back from the 2.64% high). The U trade weighted dollar has also been hit and is over 1.5% back from yesterday’s high.
ليست هناك تعليقات:
إرسال تعليق