August 3, 2017: the US dollar has plunged on Trump's watch.
What happened? So what happened in the past 12 hours that would lead to this surge?
- weak dollar
Okay, so where were we? what happened in the past 12 hours that would lead to this surge?
- the dollar continues to weaken (no sign it will change; debt limit needs to be raised -- soon)
- another retired general officer joins President Trump's inner circle
- news that 73% of companies reporting so far in this earnings season have reported "beats" on both top and bottom lines
- crude oil: cheaper for longer (or as Shell says, "cheaper forever")
- more reports of overseas investment in the US -- including physical plants, not just financial investments
- money remains cheap; 10-Treasury bonds dropped below 3%, a floor of sorts