Stephen Innes, senior trader at OANDA, said in a note the comments “have left investors dangling about the US administration currency policy as there appears to be a subtle shift in the Trump administration’s rhetoric”.
The comments overshadowed his promise to push through tax cuts by August, and pursue deregulation on companies and banks.
“One reason the market is reading a great deal into (Mnuchin’s) views is the proximity of the comments to President Trump’s speech before a joint session of Congress next Tuesday,” Innes added.
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