The dollar has erased nearly all its post-election gains

BusinessInsider/Elena Holodny/05-17-17

The US dollar index is down by 0.2% at 97.890 as of 9:46 a.m. ET on Wednesday.

That brings the dollar back to roughly where it was just before the US presidential election. The index closed at 97.861 on November 8, the day of the election, according to Bloomberg data.

Analysts have suggested that the currency is suffering from the tumult of news coming out of the embattled Trump administration in the wake of the firing of FBI Director Jim Comey and bombshell reports that the president shared classified information with Russian Foreign Minister Sergey Lavrov and Ambassador Sergey Kislyak.

In particular, markets may be worried that the recent developments could stall the economically stimulative tax and infrastructure policies many investors hoped for after the election.

PG View: Are stocks destined to retrace their gains since November as well?

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