Dollar decreases because of the negative tone inauguration speech Trump
Dollar declines on Monday after US President Donald Trump asked protectionist tone of his inaugural speech that undermines optimism that stimulate the US economy, including by reducing taxes.
The dollar fell as much as 1.2% against the yen to 113.26 yen. The euro rose 0.5% to $ 1.0754 - its highest level since December 8.
Dollar exchange rate on the unified trading session on the Moscow Stock Exchange at 11:30 MSK decreased by 0.1663 rubles. to 59.5034 rubles.
The dollar rose sharply at the end of last year on expectations that Trump promised tax cuts and increase spending on infrastructure projects will stimulate the US economy, spurring inflation and rising interest rates.
However, the optimism begins to fade, as parts of its tax policy was not followed. Also, it is doubtful that Congress would agree to any plan that would dramatically increase the budget deficit.
"If all the tax proposals will be implemented Trump, but it would increase the deficit by more than two percentage points of GDP. It is doubtful that Republicans agree to it. Any fiscal stimulus will be rather moderate, "- says Hiroko Iwaki, a senior at Mizuho Securities.
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