Dollar plays catch-up after stock market surge

While equities and Treasury yields have continued to rise in the past week, fueled by U.S. President Donald Trump's signals of new public spending, the effect on the dollar has been offset by concerns about other sections of his policy mix. "Obviously there has been this oscillation between euphoria over the macro data and trade protectionism fears," said Kamal Sharma, a strategist with Bank of America Merrill Lynch in London. Treasury yields have risen quite sharply." Currency market players ha