Having gained more than 8% in value since the start of the year, the US dollar is nearing highs not seen in more than a decade, and market indicators point to even more appreciation in the coming months. At first blush, this would seem to vindicate US President Donald Trump, who came to office pledging to “Make America Great Again.” A stronger dollar could be taken to mean that his pro-growth economic policies are working. Yet a closer look shows that matters are more complicated; in fact, Trump could precipitate a great decline in the dollar. For starters, it is not at all clear that Trump can take much credit for ... (full story)