Dollar Weakens Following Moody’s Downgrade and New Tax Bill
The U.S. dollar is set to snap a four-week winning streak as fears over America’s fiscal health mount.
Moody’s debt downgrade and the narrow approval of President Trump’s $3.8 trillion tax-and-spend bill have heightened concerns about the $36 trillion national debt.
Despite high Treasury yields, the dollar index fell 1.35% this week as investors moved into other currencies and safe-haven assets like gold.
