Dollar tumble: Trump is no longer good news for the greenback, analysts say

http://www.cnbc.com/2017/07/17/dollar-tumble-trump-is-no-longer-good-n
BYLeslie Shaffer
Published 12:58 AM ET Mon, 17 July 2017
Mary Turner | Getty Images

The dollar tumbled in recent days, but analysts weren't pointing to weaker-than-expected U.S. inflation data on Friday.

Instead, they fingered a "Trump discount" as market-positive aspects of the administration's agenda appeared to be missing in action.

Richard Clarida, global strategic adviser at Pimco, the bond giant with around $1.6 trillion under management, told CNBC that disappointment over the progress of President Donald Trump's agenda was looming over the market.

"A lot of people came into this year expecting a big stimulus from Trumponomics, potentially a big tax cut, infrastructure," Clarida told CNBC's "Squawk Box" on Monday. "And of course, we haven't got the tax cut, infrastructure is down the road and Congress is squabbling over health care. So some of the folks who really thought this would be a gangbusters year have been disappointed."