On Thursday, the evergreen buck dipped, moving back toward one-month minimums against the perceived safe-haven yen, right after President-elect Donald Trump’s highly-awaited news conference failed to provide details on his promises to spur fiscal spending as well as cut taxes.
Trump, who’s expected to take office on January 20, didn’t manage to elaborate on his planned growth policies. Instead, he took aim at targets, which included pharmaceutical companies as well as American intelligence agencies.
On Wednesday, the greenback sank as low as 114.245 yen, showing its worst result since November 9.
The dollar index, tracking the major American currency against a basket of six crucial rivals, dived 0.4%, hitting 101.42. On Wednesday, it had soared to a one-week peak, ahead of Trump’s news conference.
The dollar index had soared to its highest values since 2002 because traders bet Trump’s promises of fiscal expansion as well as tax cuts would spur growth and inflation, thus prompting a faster pace of interest rate lifts.
