The White House is making the ‘cold currency war’ worse and that could continue to wreck the dollar
|02/02/2018||Posted by BusinessMediaguide.Com under General World News||
- The dollar has extended its declines this year after its worst annual performance since 2003.
- Treasury Secretary Steven Mnuchin gave investors a reason to sell when he said a weaker dollar would benefit US trade.
- Although Mnuchin and President Donald Trump have tried to undo the comments, they impaired the market’s confidence in a hands-off approach from the White House.
- It doesn’t help that economies outside the US are strongly expanding, giving investors even more reason to sell the dollar.
The global foreign exchange market is getting more tumultuous, and it’s to the dollar’s disadvantage.