IMF endorses dollar devaluation

Section:

IMF Sees Dangers from Trade Tensions, Overvalued Dollar

By Andrea Shalal
Reuters
Wednesday, July 17, 2019

WASHINGTON -- The International Monetary Fund said on Wednesday the U.S. dollar was overvalued by 6 to 12%, based on near-term economic fundamentals, while the euro, the Japanese yen, and China’s yuan were seen as broadly in line with fundamentals.

The IMF has been at odds with U.S. President Donald Trump over his use of tariffs to resolve trade imbalances, but its assessment that the dollar is overvalued is likely to give Trump more fodder for his frequent complaints that dollar strength is hampering U.S. exports.

... Dispatch continues below ...


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Trump has railed against European and Chinese policies that lead to what he calls a devaluation of the euro and other currencies against the dollar.

The Fund's External Sector Report -- an annual assessment of currencies and external surpluses and deficits of major economies -- showed that current account surpluses remained centered in the euro area and other advanced economies such as Singapore, while deficits remained persistent in the United States, Britain and some emerging market economies. ...

... For the remainder of the report:

https://www.reuters.com/article/us-imf-currencies/imf-sees-dangers-from-...

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