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Currencies: Dollar falls in aftermath of Trump news conference light on economic detail

The U.S. dollar fell sharply against its major rivals on Thursday after Donald Trump, speaking in his first news conference as U.S. president elect, failed to reassure investors that the buck’s recent advance was justified.

Trump spoke widely but failed to give markets more details of his administration’s ideas for economic stimulus, trade policy, or taxation. Investors’ expectations that these plans would accelerate economic growth and stoke inflation have underpinned a rally in the dollar since the election.

A key dollar index is up nearly 3% over the past three months, reaching levels last seen in 2002.

The news conference “failed to provide the much-needed clarity on future fiscal policies,” said Lukman Otunuga, a research analyst for FXTM.

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