16/04/18

Trump Accuses Russia, China Of Currency Devaluation: "Not Acceptable"



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Trump Accuses Russia, China Of Currency Devaluation: "Not Acceptable"
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There is just too much economic confusion in the latest tweet from Trump to even begin to explain it, so we will just point out that moments ago Trump, in this case definitely not under the advice of Larry Kudlow, accused China and Russia of "playing the currency devaluation game", at a time of rising interest rates, which Trump slammed as "not acceptable."

Without going too deep - as we would never get out - it is worth noting two things: first both currencies have been strengthening until very recently.

Second, that the only reason Russia is "playing the devaluation game" is because of the sanctions Trump unleashed on Russia last week which sent both the ruble, and Russian assets crashing. If anything, Moscow wants a ...

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