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Barchart
Barchart
Rich Asplund

Dollar Slumps on Report of Smaller US Tariffs

Donald Trump United States US Federal Reserve Daly Ueda BOJ Inflation ’”Cook KUGLER San Francisco Fed

The dollar index (DXY00) today is down by -0.64%.  The dollar is retreating today after the Washington Post reported that President-elect Trump's aides are weighing universal tariff plans covering only critical imports.  If implemented, such a plan would disrupt global trade less than expected and reduce the inflationary impact of the tariffs, a dovish factor for Fed policy. 

Also, today's stock rally has reduced liquidity demand for the dollar.  Today’s US economic news was mixed for the dollar.  However, hawkish comments from San Francisco Fed President Daly and Fed Governors Cook and Kugler were supportive of the dollar.

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