President Trump’s comments to the Davos WEF yesterday contained much of the same as his recent pronouncements—tax cuts, lower oil prices and a demand that interest rates drop ‘immediately’. Tariffs got some airtime, but the lack of specifics remains a hindrance on the US Dollar’s (USD) performance, Scotiabank’s Chief FX Strategist Shaun Osborne notes.

USD slides as President Trump soft pedals China tariffs

“In addition, the president commented last night that he’d ‘rather not’ have to impose tariffs on China—prompting a further slide in the USD. Markets have been holding significant long USD positions and the USD’s run up