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Trump’s ‘Open-Mouth Operations’ Make Twitter Key for FX Traders

  • Tweets may become the next medium for currency jawboning
  • ‘No question’ Trump prefers weaker dollar, BofA’s Woo says
Bloomberg business news

Is Trump Torn Between a Strong and Weak U.S. Dollar?

Traders in the $5.1 trillion-a-day foreign-exchange market should put Donald Trump’s Twitter account at the top of their daily reading list.

That’s the advice of David Woo, a foreign-exchange, rates and emerging-market strategist in New York at Bank of America Corp., who expects the president-elect will use tweets with increasing frequency for his jawboning on the value of the dollar. The currency tumbled 1.2 percent Tuesday after Trump said the greenback is too strong and “it’s killing us” in an interview with the Wall Street Journal.