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Dollar rally on hold after Trump complains of currency manipulation
The lack of convention behind Donald Trump’s presidency is one of the key factors behind getting him elected to the post, but is also a volatility factor in financial markets. The independence of the Federal Reserve should mean that the President stays out of issues of monetary policy, but not this President. Trump has been complaining about the strength of the dollar and the Fed’s policy of monetary tightening. The fact that Trump feels it is OK to wade in to a debate that indirectly questions the independence of the central bank has increased market fears and lead to a slip on the dollar and a stronger ... (full story)