Brad Bechtel, global head of FX at Jefferies Group, said the dollar has had a strong start on the back of Trump's election as US president, but future movements will largely depend on the pace of policy implementation. "I can see the potential for continued dollar gains over time, but I don't see it repricing immediately," Bechtel said. During Trump's first administration, he fumbled his way in Washington, and as experience gained,...
Brad Bechtel, global head of foreign exchange at Jefferies, said it was beyond the Fed's mandate to respond to expected changes in fiscal policy but that it would be a focus for Fed officials. "Powell has proven himself to be very effective at communicating and good at keeping the ball in the middle of the fairway," said Mr. Bechtel. "I don't think he will necessarily talk explicitly about any increase in spending, but he knows in his heart that it will be a positive boost to the economy." Becht...