Список проголосовавших за комментарий "Currency Commentary: DXY Jumps on Trump Tax Talk<ul><li>The <strong>Dollar Index</strong> saw a spike at approx 9:55am as President Trump stated he would announce a 'phenomenal' tax plan in 2-3 weeks. There was little detail on the news but one would assume market expectations for a border tax have declined given the recent rally in retailers. Regardless of the details, a tax deal would be seen as potentially inflationary and pro-dollar. Thus we got the spike in the greenback with the DXY running approx 40 pips. A few other things to add here, the dollar held up well despite pretty dovish comments from St Louis Fed President James Bullard. Mr. Bullard is not a voter this year so perhaps his comments were viewed as having less of an impact on Fed direction. In addition, the snow storms impacting the East Coast have clipped volume on the day. That has helped make some of these moves in currencies a little exaggerated. </li><li>The <strong>euro</strong> was testing the 1.07 level before seeing the sell off on the dollar ramp. Of interest, the German Trade Balance surplus came in at EUR 18.4 bln compared to expectations of approx EUR 23 bln. One data point will not make a difference but trade data from the region will be closely watched following attacks by the Trump Administration on the value of the euro.</li><li>The <strong>pound</strong> is holding steady at the 1.25 level. Yesterday, Theresa May's government passed its last parliamentary hurdle for initiating Brexit. This should clear the way for Article 50 to be invoked at the end of March. A 30-year gilt auction this morning saw a yield of 1.86% and bid/cover of 1.6x comapred to 1.96% and 1.7x, respectively in the prior month sale.</li><li>The <strong>yen</strong> dipped back below the 112 level as it slides to 113.28. The move comes ahead of tomorrow's visit by PM Shinzo Abe as he arrives at the White House for bilateral trade talks.</li><li>The China <strong>yuan</strong> is sliding lower as it moves to 6.86. The currency is down 6 pips since the Chinese markets came back from the New year Celebration (BONDX, FOREX). </li></ul>"