Currency war erupts, threatening to ripple across global markets

Bloomberg/Katherine Greifeld/7-20-2018

“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.

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