Earlier in the week, President Trump tweeted (once again) frustratedly towards The Fed:
“We are competing with many countries that have a far lower interest rate, and we should be lower than them. Yesterday, ‘highest Dollar in U.S.History.’ No inflation. Wake up Federal Reserve. “
So-called “fact-checkers” went wild proclaiming this fake news, lies, and more confirmation that President Trump is against the historical establishment line of a “strong dollar” policy.
There’s just one thing! They’re all wrong! And Trump was right. The naysayers mistake was to use individual FX pairs or simple narrow dollar indices to judge the relative strength of the dollar.
The FACT is that the USDollar – at its broadest against all of its world trading partners – has never, since Bretton Woods, been stronger than it is today…
The point of bringing this up now – other than fact-checking the fact-checkers and confirming President Trump was right – is that this record high value of the USDollar against all of its trading partners suggests USD intervention (oral or actual) is virtually assured.
However, the dollar is losing ground against one form of ‘money’…
That is a serious regime change, trade accordingly.
via ZeroHedge News https://ift.tt/2ZrFr6c Tyler Durden