, Columnist
Make Them a Mar-a-Lago Accord They Can’t Refuse
Trump has the means of persuasion to get a broad dollar agreement — except with the country that really matters.
Talk of a deal on the dollar.
Photographer: Joe Raedle/Getty
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All the questions arising from the hectic first month of the second Trump administration find their expression in the dollar. So far, Trump 2.0 has been very different, and far more dramatic, than Trump 1.0, but the US currency is treating it so far as a direct replay. This is how the broad DXY dollar index performed from a month before the 2016 and 2024 elections. They’ve been identical, and if that carries on, there’s a lot more dollar weakness ahead: