Dollar Surges After Trump Says "Mnuchin Was Misinterpreted, Dollar Will Get Stronger"

After Stephen Mnuchin failed to arrest the dollar's freefall this morning, it appears to have been left to President Trump to 'fix' it. In a brief clip from a longer CNBC interview, Trump explained "ultimately he wants to see a strong dollar" and the dollar spiked...

Trump said "Mnuchin's comment was taken out of context" and added that "our country is becoming so economically strong again and strong in other ways, too... and the dollar will get stronger and stronger and ultimately I want to see a strong dollar"

And the reaction was instant buying of the dollar...

 

We do note that actually this is exactly what Mnuchin said this morning... that in the long-run we want a strong dollar... and offers no content for the short-term plunge.

Comments

Seasmoke Thu, 01/25/2018 - 14:13 Permalink

Trump is a fucking imposter. This whole country is fucked. You Trump fanboys can down arrow for 4 years until this TV show host gets lost. What a fucking clown.

Endgame Napoleon Seasmoke Thu, 01/25/2018 - 14:35 Permalink

The Uniparty is saving the interests of its two constituencies: 

  1. the top 20%
  2. the child tax credit & welfare-aided citizen / non-citizen workforce of part-time worker crony parents who make ends meet by hiring / retaining mostly fellow childbearing-aged moms, staying below the earned-income limit for monthly welfare and the cut off for child tax credits.

In reply to by Seasmoke

SuperRay Seasmoke Thu, 01/25/2018 - 15:04 Permalink

You betchya. And I can’t even imagine the kind of collectivist Soros-dick-sucking, anti-white PC asshole who’s going to voted in by the democrats. Who, btw, will dominate both the house and the senate after being swept into power by mindless leftist voters. Give me liberty or give me...that medical marijuana! It’s awesome. 

In reply to by Seasmoke

Peak Finance Thu, 01/25/2018 - 14:15 Permalink

WTF???

This dollar shit just fucked my Trading Day

Everyone knows you weaken your currency going into trade war

Fucking asshole headline reading algos don't know any better

Endgame Napoleon Peak Finance Thu, 01/25/2018 - 14:45 Permalink

If he is going into a trade war, it is because we need millions more jobs to employ 800,000 womb-productive DACAs, their relatives in the millions, along with 50 million working-aged American citizens who are out of the workforce. These are low-priority voters. But, we also have millions more underemployed womb-productive Americans who work part time for low wages, with the goverment covering their major household bills, like food and housing. Government adds a $6,444-and-up refundable child tax credit, which provides a bigger reward for sex and reproduction than they receive for work, but we still need for the jobs to be here, not in China. It is for the children of immigrants—legal and illegal. Maybe, he can sell it like that to the DAVOSian virtue signalers. It is for babies. 

In reply to by Peak Finance

farmerbraun Thu, 01/25/2018 - 14:15 Permalink

"Ultimately" a stronger $U.S. Yep , somewhere over the rainbow that will happen. It would a decade or three away , I'm thinking,, and between now and then $U.S. will decline and slowly rise again.

Doesn't hurt . . . . in the long run.

Endgame Napoleon farmerbraun Thu, 01/25/2018 - 14:51 Permalink

That is the snake oil these Uniparty Globalists have been selling for decades, starting with Billy Clinton, telling us that we need to flatten the world, making everything equal on the backs of the US middle class, while the elites profit off of cheap global labor markets. The US middle class did not rise again. We know all about such empty promises in the American South.

In reply to by farmerbraun

onthedeschutes Thu, 01/25/2018 - 14:18 Permalink

I don't give a flying fuk about what Munchkin or Trump thinks about the strength of the dollar.  I'm holdin out to hear what the "one trader" thinks before I place my bets in the casino.  In the meantime, if Gartman makes a call...well...that will trump all other calls, of course.