When The Donald Talks! Trump Says US Dollar Too Strong (As 10Y Treasury Yield Slumps)

Jon Economy, Geopolitics, Market Commentary, Politics

Like the old EF Hutton ads, when The Donald speaks, currency and bond traders listen.
(Bloomberg) President Donald Trump said he won’t brand China a currency manipulator, retreating from core campaign promise, though he argued that a strong dollar is hampering the ability of American firms to compete.
Trump, in an interview with the Wall Street Journal on Wednesday, appeared to acknowledged that China hasn’t been intervening to weaken its currency recently. ‘They’re not currency manipulators,’ he said.
It’s a shift of opinion after Trump accused China during last year’s election campaign of manipulating its currency to gain the upper hand in trade and vowed to label the country a manipulator on his first day.

This post was published at Wall Street Examiner on April 12, 2017.