The so-called strong-dollar policy has been a mantra of U.S. Treasury departments for more than two decades. Now, with Donald Trump and Hillary Clinton being anointed as the respective Republican and Democratic presidential nominees, America’s currency doctrine is due for a rethink.
The greenback has surged around 20 percent since mid-2014, and speculation has been rife this year that global policy makers might reach a coordinated currency pact to weaken the dollar. Group of 20 finance ministers and central bankers gather in China later this week amid a storm of conditions that have kept the dollar strong, including the Brexit vote and weak global growth.
