http://www.forexconspiracyreport.com/lack-of-certainty-in-washington-hurts-the-dollar/
Lack of Certainty in Washington Hurts the Dollar
The Trump administration treats policy decisions like promotions for the Trump television show, The Apprentice. With much hoopla an announcement is scheduled and when the day comes the hype disappoints. The markets and the dollar responded to the promise of a stronger economy, more jobs, deregulation, lower taxes, and repatriation of offshore corporate cash. Very little of any of that is happening and the things that have happened are causes for uncertainty. And, lack of certainty in Washington hurts the dollar. Reuters writes that U.S. dollar gains are being held back by lack of clarity on reforms.
The dollar will rise only slightly over the coming year on waning expectations for sweeping tax cuts and several rate rises from the Federal Reserve, according to foreign exchange forecasters who say the risks are skewed more to the downside.
After surging a little over 30 percent over the last five years, the dollar index — which measures the currency’s value against a basket of six major currencies — has fallen more than 5 percent this year.
Growing political tension in Washington over Donald Trump’s presidency has raised worries of delays in the U.S. administration’s efforts to implement sweeping tax cuts, and has pressured the dollar.
The consensus of currency traders is that it is that Trump has a long road ahead of him digging out from scandals and possibly impeachable offenses relating to Russia hacking the election to accomplishment of his campaign promises. He has not demonstrated an ability to work with congress and will likely be an increasingly isolated president. The dollar will be one of the casualties of his continuing problems.
4. http://www.forexconspiracyreport.com/lack-of-certainty-in-washington-hurts-the-dollar/
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