MUFG in a not on Friday (yes ... I'm a bit late to this):
- said the drop in the USD after Trump said he'd prefer not to impose more tariffs on China could be limited
- Trump is still more likely to enact new tariffs
- While Trump want lower rates and a lower USD his immigration, tax cuts, and tariffs policies means he is unlikely to get then
- which means US yilds and the dollar will be higher for longer
USD index, DXY
