Forex news for the NY trading at February 9, 2017
In other markets:
– S&P is ending at 2307.87 up 13.20 points or 0.58%
– Nasdaq composite index is closing at 5715.18, up 32.72 point or 0.58%
The dollar got a boost today after Pres. Trump said he will announce something phenomenal on taxes in 2-3 weeks. In addition to the dollar moving higher, the comments sent US stocks up (all major indices closed at record highs). bond yields higher (10 year up near 6 bp), and gold lower (by about $10.50). That has been the Pavlovian reaction in the markets on Trump stimulus talk. One day, he will exhaust all the check boxes on his campaign promises and the market will correct, or the market will figure out maybe he has promised too much. However, for the time being, the stock market continues to like the news and the other markets are falling in line.
Forexlive Americas forex news wrap: Dollar rebounds as Trump promises “something phenomal” on taxes
