Three-Decade Veteran: Estate Magnate and Greenback Bulls

three-decade veteran: Yet the real estate magnate upset win triggered the opposite reaction -- a bonanza for greenback bulls and one of the most stunning rallies since the financial crisis, according to Bloomberg. Scott Petruska, a three-decade veteran of the foreign-exchange industry, counts himself among those who didn t anticipate the Republican sweep of Congress that accompanied Trump triumph. The widely held view was that a victory by Donald Trump in the U.S. presidential election would spur a dollar rout as investors anticipated uncertainty and financial-market volatility that would cause the Federal Reserve to delay interest-rate increases. Investors are betting the power of the executive and legislative branches combined will open the fiscal tap, boosting economic growth and spurring faster inflation. We have a Republican president and a Republican Congress -- things may actually happen after eight years of gridlock in Washington. The net result of that scenario is that expectations are mounting for a higher Fed rate target, boosting the appeal of holding dollars. function global function ad Code markets/article dimensions id 1 0 2 1 10 strategy targeting targeting Modifiers ; ; window ; It probably ranks as one of the biggest surprises in the currency market in the past 30 years, said Petruska, a Newton, Massachusetts-based senior adviser at SVB Financial Group. (news.financializer.com). As reported in the news.