POLITICS (National, International): Donald Trump presidency, global economy, American dollar?: "In the Age of Trump, the Dollar No Longer Seems Like a Sure Thing" ....
Thursday, August 10, 2017 at 10:16AM
Emma

***Donald Trump presidency, global economy, American dollar?

* New York Times (Peter Goodman):  "In the Age of Trump, the Dollar No Longer Seems Like a Sure Thing" - From the NYT:

LONDON — It is the closest thing to a certainty in the global economy. When trouble flares and anxiety mounts, people who manage money traditionally entrust it to a seemingly indomitable refuge, the American dollar.

Yet on Wednesday, in the hours after President’s Trump’s threat to unleash “fire and fury” on North Korea if it continued to menace the United States, global investors sold the dollar. The same dynamic played out in June, as Saudi Arabia and other Arab nations imposed an embargo on Qatar, delivering a fraught crisis to the oil-rich Persian Gulf. And the dollar dipped in July after President Vladimir V. Putin of Russia expelled 755 American diplomats, ratcheting up tensions between the two nuclear powers.

The dollar remains the dominant instrument for global trade, a role it is unlikely to surrender anytime soon. Yet those who trade in currencies see tentative signs that the dollar may be losing some status as markets grapple with the unorthodox actions of the man leading the nation printing the money.

Donald J. Trump’s presidency has been so full of departures from the norms of international relations that uncertainty has seeped into the calculation of America’s plans. That has subjected the dollar to additional skepticism, enhancing the fundamental factors pulling it down, from worries about the strength of the American economy to improved fortunes in Europe and Asia. Since the beginning of the year, the dollar has surrendered nearly 8 percent against a basket of major currencies ....................

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