The Dollar’s Smile Can Change the World for Trump
The currency is grinning out of both sides of its mouth, but it already looks like a frown to other countries.
The world doesn’t necessarily smile with you.
Photograph: mikroman6/Moment RF/Getty
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To many practical purposes, Donald Trump took over as US president two months ago. He’s told us what he intends to do, and markets have adjusted accordingly. But only on Monday can he enact actual specific policies, and there is feverish speculation that it will instantly bring a raft of executive orders. In this last Points of Return before the second Trump era begins (the US has a long weekend to celebrate Martin Luther King Day, so markets will be closed on inauguration day), we offer this road map to the most important financial variable confronting him: the US dollar.