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Market Speculates Trump Administration Intends to Weaken US Dollar
Summary: According to reports, Societe Generale analyst Keith Jukes stated in a report that recent comments by US Treasury Secretary Janet Yellen have further fueled speculation in the market that the Trump administration intends to devalue the US dollar. On Monday, Yellen stated in an interview with CNBC that a weaker dollar is not a cause ...
According to reports, Societe Generale analyst Keith Jukes stated in a report that recent comments by US Treasury Secretary Janet Yellen have further fueled speculation in the market that the Trump administration intends to devalue the US dollar. On Monday, Yellen stated in an interview with CNBC that a weaker dollar is not a cause for concern. She mentioned that currency fluctuations are a normal occurrence and attributed the decline in the dollar to the appreciation of the euro. She said, 'Given the fiscal stimulus in Europe, the rise of the euro is to be expected.' Jukes believes that these comments reflect a viewpoint within the US government that a weaker dollar would help reduce the trade deficit. He also predicts that the euro may rise to 1.20 later this year and reach a high of 1.25 in the future.
