Wall Street doesn't rule out a move by Trump to weaken dollar

Section:

By Katherine Greifield
Bloomberg News
Wednesday, August 22, 2018

The United States of America, a currency manipulator?

It's a label more frequently slapped on developing export economies and one that President Donald Trump took up just this week to browbeat China and Europe in his increasingly pitched trade war.

But as outlandish as it sounds, some Wall Street observers say the possibility that Trump himself will launch a sustained campaign to weaken the dollar as a way to reduce the U.S. trade deficit can't be dismissed.

... Dispatch continues below ...


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"The trade debate will increasingly include the currency issues," said Charles Dallara, a former U.S. Treasury official and one of the architects of the Plaza Accord, the 1985 watershed agreement between the U.S. and four other countries to jointly depreciate the dollar. "It's inevitable."

Granted, Dallara didn't specifically use the word "manipulation." There's something of a reluctance among analysts to associate the U.S., the standard-bearer for free-market principles, with the term. They prefer to refer to it as foreign-exchange intervention. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2018-08-22/trump-a-currency-mani...

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