Same Day FX Wars? Dollar Slumps After Mnuchin Says “Having Weaker Dollar Better”, Undoing All Euro Losses

Thursday, August 31, 2017
By Paul Martin

by Tyler Durden
Aug 31, 2017

The small of currency war is rising in the air.

Less than six hours after the ECB lobbed the first trial balloon of the day, when Reuters reported that ECB policymakers were “growing worried” about the recent rapid gains in the Euro, sending the EURUSD sharply, if briefly lower, the entire move is now a distant memory following jawboning from US Treasury Secretary Steven Mnuchin, who moments ago said on CNBC that “having a weaker dollar is somewhat better for trade”, a statement which immediately spooked algos into dumping the USD…

The Rest…HERE

Leave a Reply

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter