Make Dollars Great Again: Greenback Surges To Best Gain Since January

Here’s what we said first thing this morning about the importance of the NFP print for the dollar:

Thursday’s afternoon Mueller bombshell actually makes this morning’s jobs report a bigger deal than it otherwise would have been for the dollar.

Well, that’s turned out to be spot-on.

And it wasn’t just the jobs report. These comments from Gary Cohn on Fox Business (because where else, right?) helped:

 We are committed to get as low a rate as possible with a tax overhaul.

It would have an enormous multiplier effect to lower the corporate tax rate from 35% to 15%

Two separate waves of buying conspired to put the broad dollar on track for its best daily gain since January:

Dollar

If Trump was right to call the dollar a measure of the world’s confidence in his leadership, this will be welcome news because he could certainly use a boost right about now…

Low

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