Daryl Coley – Sovereign (LYRICS)

zerohedge.com / by Tyler Durden / Apr 19, 2017 6:04 AM

One week after Donald Trump, in an interview with the WSJ, sent the dollar tumbling in its biggest one day drop in months, Treasury Secretary Steven Mnuchin has been engaging in damage control with not one but two appearances in the FT, first stating that in the “long-run” a stronger dollar is beneficial for the US economy on Monday, and then again making headlines overnight when he said that Donald Trump is “absolutely not” trying to talk down the strength of the dollar, as stated again in the Financial Times on Wednesday.

As we noted at the time, Mnuchin first had played down Trump’s WSJ comment that the dollar was getting “too strong” in an interview first published late on Monday in the FT. Then, in a more detailed version published on Wednesday, he directly rejected the idea that Trump was trying to talk down the dollar, saying “Absolutely not, absolutely not.”

FT — You say you don’t intervene in foreign exchange markets, and yet some people in the markets took the president’s comments last week as him talking down . . .

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