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Twin Inflation Tales Reinforce Diverging Paths for Dollar, Euro
Market-derived inflation expectations are climbing on both sides of the Atlantic -- but the strong euro and the weak dollar underscore diverging economic paths that suggest the greenback’s losing streak may gather more pace.
The shared currency climbed to a three-year high against its U.S. counterpart Wednesday, spurred by strong manufacturing data across the region. That’s affirming hopes of a benign uptick in price pressures consistent with consumer demand and wage increases. The greenback, for its part, fell to a three-year low against its major peers after Treasury Secretary Steven Mnuchin endorsed its decline as a fillip for U.S. trade.
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The greenback just isn’t getting a break: five-year real borrowing costs are at two-year highs, while U.S. economic data are strong and markets are factoring in tax stimulus. Yet the currency has weakened against every Group-of-10 peer since President Donald Trump’s inauguration. The Bloomberg Dollar Index tumbled to a fresh three-year low Thursday before paring losses. - Bloomberg
The shared currency climbed to a three-year high against its U.S. counterpart Wednesday, spurred by strong manufacturing data across the region. That’s affirming hopes of a benign uptick in price pressures consistent with consumer demand and wage increases. The greenback, for its part, fell to a three-year low against its major peers after Treasury Secretary Steven Mnuchin endorsed its decline as a fillip for U.S. trade.
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The greenback just isn’t getting a break: five-year real borrowing costs are at two-year highs, while U.S. economic data are strong and markets are factoring in tax stimulus. Yet the currency has weakened against every Group-of-10 peer since President Donald Trump’s inauguration. The Bloomberg Dollar Index tumbled to a fresh three-year low Thursday before paring losses. - Bloomberg
Inflation is on its way folks. The end of the Obama recovery is being ushered in. It genuinely appears tRump is going to do for America what he's done for this state park.
Donald J. Trump State Park (NY)
