Trump's presidential win emboldens dollar bulls as they brace for tariffs

Quick Summary:

In 2016, the dollar rose about 6% against a basket of currencies in the first two months after Trump's election victory but gave up those gains in subsequent months.

The dollar went on to rally about 13% between February 2018 and February 2020 when Trump implemented tariffs against several countries, including China and Mexico.

How much further the dollar climbs could hinge on whether investors believe Trump will enact the tax cuts and tariffs that are key elements of his economic platform.

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Category: BusinessFinance

Markets: IndiaChinaIsraelJapanMexicoUkraine

Topics: Federal Reserve Donald Trump Policymakers US presidential elections

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 13:05:11 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 1048 words

Reading Time: 6 minutes read

Sentences: 36 lines

Sentence Length: 30 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23458418

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