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Bob
@sharden
A few months ago the consensus was that Donald Trump’s presidency would boost the outperformance of American stocks, raise Treasury yields and strengthen the dollar. So far this year, all three bets are deep in the red. Yet it is the weakening of the dollar that has shocked the most. Mr Trump’s assault on the global trading system threatens to unleash economic chaos. That sort of worry usually has investors seeking dollars, since they view the world’s reserve currency as a haven when markets are turbulent.
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