What is the Trend on the Dollar? - FINANCIAL-24
On April 27, 2011, Ben Bernanke stated that attaining economic growth would provide the foundations to a stronger dollar. On November 8, after the election of Donald Trump, the market projected an increase in economic growth and, as a result, the dollar (DXY) index jumped from 96.5 on election day to 103 at the end of 2017 (up 7%). This end of year expectation for larger economic growth, however, appears to have dissipated as the DXY index has now dipped below pre-election levels to 95.
Paradoxically, US equities continue to hit new record highs. Does this indicate that the market continues to expect higher corporate earnings (through a corporate tax break) without much benefit for the overall economy?
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