Trump May Trash a Strong Dollar, But He’s a Boon for Bulls
- Bloomberg’s dollar index has tracked Trump’s approval rating
- Trump’s equity-friendly policies have boosted the buck: TD
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For all of Donald Trump’s complaints about the dollar’s strength, he may have himself to blame.
One theory behind the greenback’s 2.8% climb so far this year has to do with the U.S. president’s soaring approval rating. While concerns about the coronavirus have certainly increased the demand for so-called safe haven assets like the dollar, there has also been a 70% correlation between Trump’s popularity and the U.S. dollar since his election, according to calculations from TD Securities.