US President Donald Trump has given a confusing signal about dollar policy in his statement.
Trump said he supports the strong dollar, saying, “I will never support the weak dollar,” but he also spoke about the economic benefits that low exchange rates offer US manufacturing.
“I would never say I like low exchange rates. I’m a strong dollar person. But the dollar is weak, Trump said. These statements came when I was speculating that the market was actively supporting his administration’s weak dollar policy.
Asked if he was worried about the continued decline in the US dollar, Trump replied, “I like the strong dollar,” and quickly added. The president also noted in particular that the manufacturing sector benefits from weak dollars.
Trump said, “The strong dollar has its consequences. It looks good from the outside, but no one will come to travel. You can’t sell factories, trucks, etc. A strong dollar is good for controlling inflation. That’s all. There’s no inflation anyway.
*This is not investment advice.