If U.S. Intervenes in FX, Even Dollar Bears Say to Buy the Dip
- Treasury has limited firepower in $5 trillion-a-day market
- Traders would likely buy into temporary dollar weakness: SSGA
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Here’s one thing dollar bulls and bears can agree on: In the unlikely event that the U.S. intervenes to weaken its currency, it’d be a good time to buy.
President Donald Trump said Friday that he hasn’t ruled out taking action to cheapen the greenback, and that a strong dollar makes it “harder to compete.” His comments followed weeks of speculation among analysts about the possibility of U.S. intervention amid the president’s repeated complaints about other countries’ currency practices.