BUZZ-COMMENT-Trump's currency manipulation question looms large
Jan 21 (Reuters) - A currency manipulation question posed by U.S. President Donald Trump should help to keep foreign exchange volatility high along with the ongoing focus on U.S. tariffs.
Trump has ordered federal agencies to investigate and remedy persistent U.S. trade deficits, and address other countries' unfair trade practices and currency manipulation, according to a draft White House trade memo seen by Reuters.
The final currency report published by the U.S. Treasury during Joe Biden's administration said no major U.S. trading partner manipulated its currency in the year to June 30 - but it would be a surprise if that view is echoed while Trump is in the White House.
Foreign exchange rates have had a lively start to Trump 2.0, with dollar losses spurred by accurate guidance about an absence of day-one U.S. tariffs followed by USD gains after Trump said he was thinking about imposing 25% duties on imports from Canada and Mexico on Feb. 1.
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(Robert Howard is a Reuters market analyst. The views expressed are his own, editing by Ed Osmond)
((robert.howard@thomsonreuters.com))
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