Dollar Traders Challenge Trump-Rally Thesis for the First Time
- Retreat raises stake for U.S. nonfarm payroll data on Friday
- Investors’ conviction for higher dollar remains intact
Deutsche Bank's Chadha Sees U.S. Dollar Rising 8-10%
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Almost two months after Donald Trump’s election victory, investors’ frenzy over the president-elect’s policies is finally experiencing a reality check.
The dollar’s biggest two-month rally against the yen in two decades came to an abrupt halt Thursday, with the greenback slumping as much as 1.7 percent. Several triggers fueled the slide, including China’s central bank muscling into the funding market to support the yuan, as well as improving economic data from China and Europe juxtaposed with U.S. figures suggesting the job market may be softening.