Trump Administration Changes US Currency Management Approach
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The Trump administration's focus on bilateral trade deficits is altering traditional US currency management according to former Treasury official Mark Sobel.
The Trump administration's emphasis on bilateral trade deficits and verbal jawboning of the dollar is upending the government's traditional approach to managing the US currency, according to a former top Treasury official.
"The standard playbook is going to be thrown out the window," said Mark Sobel, US Chair of OMFIF Ltd. and a 40-year veteran of currency policy, at the TradeTech FX conference in Miami.
"I expect to hear a new lexicon emphasizing bilateral deficits and a desire to impact the dollar's value, both up or down depending on who's doing the talking."
