US Dollar Weakens After Donald Trump Perform His First Press Conference

PT Equityworld, New York - This morning the dollar weakened to USD 13 285 was recorded, from yesterday afternoon at USD 13 328. The weakening US dollar is considered as US President-elect Donald Trump. Why?

As reported by Reuters on Thursday (12/01/2017), Trump did his first press conference yesterday. But in the press conference, Trump did not explain in detail about his promise to boost the government's budget and cut taxes.

Trump who will be inaugurated as president on January 20, 2017 did not specify policies to encourage economic growth.

Instead, Trump discuss the pharmaceutical industry and the US intelligence services, which he called a Nazi for spreading rumors that Trump coalition with Russia to win against Hillary Clinton's presidential campaign.

Because the press conference were rated unsatisfactory, the exchange rate of US dollar against the yen down. The dollar fell to 114.245 yen, this is the lowest level since 9 November 2016 ago.

"There 'God Trump' and 'Bad Trump in the market. Will' Good Trump 'back before the inauguration?" Analysts said Ayako Sera, quoted by Reuters.

The dollar index, which is an index of the dollar to six major currencies, fell 0.1% to 101.65. On Wednesday, the index rose as Trump will conduct a press conference.

The dollar index last week climbed to its highest level since 2002, because Trump promised to boost the government's budget and cut taxes.

Trump plan aims to boost economic growth and inflation, as well as accelerate the benchmark interest rate hikes by the US central bank, the Federal Reserve or the Fed.

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