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Trump Trade Doubts Send Dollar, Shares Tumbling

Posted by Chris Advincula on Mar 27, 2017 6:50:29 AM


(Mar 27 Reuters) The dollar and share prices tumbled on Monday, as investors worried that U.S. President Donald Trump's defeat over healthcare reform foreshadowed difficulties delivering other key campaign promises, in particular tax cuts and spending.

Trump;s failure to rally enough support from his own Republican party to repeal and replace Obamacare spurred a rush to save haven assets such as gold, the Japanese yen and the Swiss Franc.

So-called "Trumpflation trades" - bets that Trump's pro business policies would stoke growth and inflation in the U.S. and global economies, boosting assets such as commodities - came under heavy selling pressure.

The dollar, whose index had surged more than 6 percent in the aftermath of Trump's election to hit 14-year highs at the start of 2017, slipped to its lowest since Nov 11, two days after the results of the presidential race.

Click on the link below to see the full story from Reuters: (by Jemima Kelly)

Trump trade doubts send dollar, shares tumbling




Topics: $USDJPY, gold, USDCHF, US Dollar, Forex Fundamentals, Forex


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