Wall Street opens by regaining confidence in the opening of the economy
March 26, 2021On Wall Street, the Dow Jones falls in the wake of a record
March 31, 2021The dollar strengthens, boosted by rising bond yields and the expectation that economic recovery would lead the Fed to tighten sooner than previously thought, Spartan’s Peter Cadille tells WSJ. “We still have negatives for the dollar, like huge deficits” stemming from fiscal stimulus, he says. “But foreign exchange traders also expect higher taxes which should, if not close the (fiscal) gap, at least keep it from getting worse.” The dollar gains 0.2% versus the euro and 0.1% against the yen, while the US dollar index rises 0.2%. Cardillo expects March’s employment data to reinforce the trend.
