Market speculation that the Trump administration intends to weaken the dollar
Odaily News Kit Jukes, an analyst at Societe Generale, pointed out in a report that recent remarks by U.S. Treasury Secretary Bessant have further reinforced market speculation that the Trump administration intends to push for a depreciation of the dollar. In an interview with CNBC on Monday, Bessant said that the weakening of the dollar is not a cause for concern. He called currency fluctuations normal and pointed out that the decline in the dollar was mainly affected by the appreciation of the euro. He said: Given the strength of fiscal stimulus in Europe, the rise of the euro is to be expected. Jukes believes that these remarks reflect a view within the U.S. government that a depreciation of the dollar will help narrow the trade deficit. He also predicted that the euro could rise to 1.20 later this year and hit a high of 1.25 in the future. (Jinshi)
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