Authored by Anatole Kaletsky, originally posted at Project Syndicate,
For those of us who were wrong about the United States’ presidential election, it is worth suppressing emotional reactions, at least for a month or two, and attempting a dispassionate judgment about what Donald Trump’s administration may mean for the world. So here are ten likely consequences of the Trump presidency, divided equally between the good and the bad.
European shares dipped and U.S. equity-index futures (-0.3%) pointed to a lower open as traders questioned the stability of the Italian banking sector ahead of next weekend's referendum as well as the longevity of the Trumpflation rally, pressuring the dollar, sending the USDJPY sliding as low as 111.355 overnight, before rebounding over 112. That was the dollar's biggest fall against its Japanese rival since October 7 and against a basket of top world currencies it was the greenback's worst day since November.
After 16 days in a row without a meaningful decline, Asia trading has opened with USDJPY dumping back from almost 114.00 to 111.50 - the biggest drop since July 29th. The USD Index is down most since Trump's win but for now the moves in equities (Japanese and US) are modest (but down)...
Yen is heavily bid as Asia trading opens
The biggest drop in USDJPY since July...
As the post-Trump surge in the dollar has seemingly stalled...
Japanese equities are getting hit...
This article by David Haggith was first published on The Great Recession Blog: