Currencies Trade Mixed Ahead of Inflation Print
Currency markets are struggling against dangerous cross currents this morning as traders grapple with the impact Donald Trump’s policies might have on inflation, capital costs, and global trade. In a series of announcements published over the last two days, the president-elect appointed a number of loyalists to key positions, suggesting that he intends to follow through on campaign pledges that could raise prices, force the Federal Reserve to ease more slowly, and hammer trade-dependent economies outside the United States. Yields are pushing higher, equity futures are setting up for a weaker open, and the greenback is trading on a mixed...