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A $2.6 Trillion Myth: For the Dollar, Trump Tax Holiday Is a Dud

  • Bulk of the cash held overseas is already in U.S. currency
  • Last tax holiday had limited effect on greenback: JPMorgan
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Worries of a Trump-Fueled Global Dollar Shortage

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Dollar bulls see Donald Trump’s plan to repatriate as much as $2.6 trillion in corporate profits stashed overseas as a can’t-miss boon for the greenback. The problem is most of that hoard may already be held in the U.S. currency.

Traders pushed the dollar up by the most in five years last week, partly in a wager that the president-elect’s tax-amnesty proposals will fuel a surge in greenback demand.