Dollar suffers steep selloff in the early US session as WSJ reports that Senate Finance Committee Chairman Orrin Hatch sent a letter to Trump requesting him to reconsider his trade policies. And Hatch warned that GOP senators may be ready to risk a legislative confrontation with Trump if he doesn’t reverse course. Hatch is a seven-term Utah Republican Senator who’s seen as a reliable Trump ally.
As we pointed out before, Dollar has been benefiting from Trump’s confrontation trade war threats. It remains to be seen if it’s true. But it looks like no trade war, no dollar rally.
