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Trump Comments Hit US Dollar, Little Impact on Rates
The US dollar is broadly lower following President Trump's comments yesterday, criticising Fed policy and reiterating his previously made claim that China and the EU are manipulating their currencies. We suggested that last week's presidential tweet that identified strong capital inflows into the US may not have been written by President Trump. The qualification of a superlative was not his style. Trump did not talk the dollar down on Monday as much as criticize the Fed's monetary policy, which in the mind of investors, is arguably even more sacrosanct than the strong dollar policy. The President did not seem to ... (full story)
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