MARKET OUTLOOK - The Uncertainty of Trump's Policies is Preventing Further Strengthening of the Dollar

Forex - Jane Foley from Rabobank argued that the dollar has been struggling to extend its gains due to uncertainty surrounding the policies proposed by Donald Trump following his victory in the U.S. presidential elections. Foley stated that there is "a significant amount" of uncertainty regarding the size and scope of Trump's policies. She added, "There is even greater uncertainty about the international implications of Trump's agenda and the possible policy responses from other countries." Foley concluded, "Overall, it is still too early to draw strong conclusions about the impact of Trump's policies, which is causing investors to be hesitant to extend the rally in the dollar for the time being." The DXY dollar index previously reached a four-month high of 105.311 before declining by 1.7% to 105.211.