The Dollar Is the ‘Big Loser’ in Trump’s Political Turmoil
- Euro could climb to $1.40 in next two years: Amundi Pioneer
- Stocks and Treasury yields also slide in risk-off trade
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The latest upheaval in President Donald Trump’s administration is moving the U.S. closer to sparking a global trade war that could sink the dollar.
The risk that the U.S. pivots toward more protectionist policies is increasing with the departure of moderate voices, including Secretary of State Rex Tillerson and White House economic adviser Gary Cohn, said Paresh Upadhyaya, a portfolio manager at Amundi Pioneer Asset Management. The administration’s next move on trade came Wednesday, as it announced a challenge to Indian export subsidies.