I posted yesterday on a Wall Street Journal story leaking details of Trump's 'day one' agenda, noting that he was not going to implement tariffs:
While I urged caution, noting that Trump can be mercurial and volatile with policy announcements (that's what Twitter is for after all!) I placed a 75 – 80% probability that It would be a 'no tariff implementation' day. That was a good call.
For traders, it meant an offer behind 'risk' and an offer for the USD.
And that's what he played.
Here is the USD index as of Monday morning my time (Sunday afternoon US time when the Journal carried the story).
ForexLive starts the week on a US Sunday afternoon, and it's days like this that make it worthwhile. I hope traders out there got a few pips from this. Thanks to the WSJ for the report.
How Trump's day played out – he talked about taxes but did nothing, as we expected and thought:
