NewsFeeder
09-29-2017, 07:20 AM
Trumpflation strikes back: dollar set for best week of the year
The dollar was set for its biggest weekly rise in 2017 and stocks rose across the world after U.S. President Donald Trump proposed the biggest tax overhaul in three decades in the United States. In a year when the U.S. currency has taken a beating partly because of Trump's inability to get backing from other lawmakers for his spending measures, the tax plan helped push stocks up while safe-haven U.S. Treasuries sold off. The dollar index (.DXY), a trade-weighted basket of the dollar against its rivals, has gained more than 1 percent this week, putting it on track for its best weekly performance since December and wiping out a chunk of its year-to-date losses.
https://finance.yahoo.com/news/asia-shares-recuperate-rough-week-005216409.html?.tsrc=rss
The dollar was set for its biggest weekly rise in 2017 and stocks rose across the world after U.S. President Donald Trump proposed the biggest tax overhaul in three decades in the United States. In a year when the U.S. currency has taken a beating partly because of Trump's inability to get backing from other lawmakers for his spending measures, the tax plan helped push stocks up while safe-haven U.S. Treasuries sold off. The dollar index (.DXY), a trade-weighted basket of the dollar against its rivals, has gained more than 1 percent this week, putting it on track for its best weekly performance since December and wiping out a chunk of its year-to-date losses.
https://finance.yahoo.com/news/asia-shares-recuperate-rough-week-005216409.html?.tsrc=rss