Source: Insider Insider Source: U.S. Not Seeking Dollar Depreciation in Tariff Negotiations

BlockBeats News, May 15th, According to sources, U.S. officials engaged in global trade agreement negotiations did not attempt to include exchange rate policy commitments in the agreement terms. The foreign exchange market is experiencing sharp fluctuations due to concerns that the Trump administration may intend to drive down the value of the dollar or use trade negotiations to achieve this goal.

On Wednesday, the South Korean won surged nearly 2% against the dollar, while the Japanese yen also strengthened. Earlier this month, the New Taiwan dollar recorded its largest gain in decades. The source stated that U.S. Treasury Secretary Bennett is the only member of the Trump economic team responsible for exchange rate matters and has not authorized other officials to negotiate exchange rate policies with trading partners. Such negotiations will only take place when he is personally involved. (FXStreet)