The dollar has surged in the last 24 hours (following President Trump’s tax-reform comments) to its strongest against the yen in 10 days ahead of today’s meeting of US and Japanese leaders.
The dollar has fallen steadily against the euro and yen since mid-December as Trump focused on protectionist trade policies, ran into opposition to some of his executive orders, and appeared to step away from the United States’ long-held strong-dollar policy.
But the new president spoke out on stimulus measures on Thursday, promising a “phenomenal” tax plan within a few weeks in a White House meeting with airline executives… and the dollar shot higher.
As Reuters reports, while Trump may also discuss his concerns over a strong dollar with his Japanese counterpart, it is expected that whatever is said publicly after the meeting will focus on trade and investment deals. Analysts remain uncertain with regard exactly what President Trump wants from the dollar…
This post was published at Zero Hedge on Feb 10, 2017.
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