UBS Says Dollar to ‘Roll Over’ Amid Trump Spending, Tax Cuts
- Weaker currency may help boost metals, gold, wealth unit says
- ‘We believe the dollar has actually peaked,’ Wayne Gordon says
UBS' Gordon: Commodity Price Gains to Extend Into 2017
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The dollar has peaked and will probably decline this year under President Donald Trump, according to UBS Group AG’s wealth-management unit, which expects the currency’s impending weakness will help to benefit prices of base and precious metals.
“The more debt that Donald Trump promises through higher infrastructure and lower tax and tax cuts tends to lead itself to a twin deficit situation in the U.S., which clearly is negative for the currency,” Wayne Gordon, executive director for commodities and forex at the unit, said in a Bloomberg TV .