Adam and Ryan posted on Trump"s currency remarks overnight:
- Trump trade advisor: Germany is using a grossly undervalued euro to exploit the US - FT
- US dollar slumps after Trump laments FX devaluations
- Trump just came within a hair of announcing official US policy to devalue the dollar
- U.S. President Donald Trump and a top economics adviser on Tuesday unleashed a barrage of criticism against Germany, Japan and China, saying the three key U.S. trading partners were engaged in devaluing their currencies to the harm of American companies and consumers
More:
- The comments ... were the starkest indication yet (Trump) is prepared to jettison two decades of "strong dollar" policies
- Also signals a weakening of the U.S. commitment to an agreement among the financial leaders of the world"s top 20 economies, struck after the 2008 financial crisis, that countries would not pursue policies to target exchange rates for competitive purposes
- "Those comments, talking about somebody else"s currency, talking about valuation, almost seem like they"re criticizing the construction of the euro zone which is a whole other issue," said Greg Anderson, Global head of FX strategy for BMO Capital Markets in New York. "I"m sure a lot of people have those thoughts. In the gentleman"s agreement, as an official you don"t mention those thoughts."
More from Reuters at the link, above
More on Trump"s currency devaluation comments
More on Trump"s currency devaluation comments
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