Bloomberg/Katherine Greifeld/6-25-2019
“President Donald Trump believes the dollar is too strong, a senior administration official said Tuesday. Last week, Trump accused Europe and China of weakening their currencies to gain a competitive advantage. Wall Street banks are even starting to ponder the risk that the U.S. could seek to drive the dollar lower. And with Democratic presidential candidate Elizabeth Warren proposing ‘actively managing’ the currency, its value promises to be a topic deep into the election cycle.”
USAGOLD note: Push all else aside, this might be the big story going into the G-20 summit and the one situation upon which all else – including trade negotiations – hinges. Needless to say a concerted policy to weaken the dollar is likely to strengthen gold. . . . . . . .
