Analyst: The dollar is weakening, and the market's further reaction to Trump remains to be seen

ChainCatcher news, before Trump's inauguration speech, the dollar had already fallen by more than 1%, as there were reports that he would issue a memorandum directing federal agencies to investigate and work on improving the persistent trade deficit.

Kristina Clifton, an economist at the Commonwealth Bank of Australia (CBA), stated that despite this, Trump did not impose any new or higher tariffs (in the speech). He reiterated plans to combat illegal immigration, reduce inflation by declaring a national energy emergency, end the Green New Deal, and revoke electric vehicle mandates. On Monday, the U.S. market was closed due to the Martin Luther King holiday, so the full market reaction to Trump's speech would not be known for several hours. She added that expectations in U.S. politics for new policies to be announced this week might be too high, and therefore, the dollar could continue to decline.