Currency war erupts, threatening to ripple across global markets
“The real risk is that we have broad-based unravelling of global trade and currency cooperation, and that is not going to be pretty,” said Jens Nordvig, Wall Street’s top-ranked currency strategist for five years running before founding Exante Data LLC in 2016. Trump’s recent rhetoric “is certainly shifting this from a trade war to a currency war.”
USAGOLD note: As we are seeing, a trade war implies a currency war. The head currency trader at Credit Suisse is quoted in this article as saying that speculators will heed Trump’s complaint and scrap their long dollar positions accordingly.