Markets

The Australian dollar is getting beaten up again

The Aussie dollar has fallen against the greenback for the sixth straight session. Westpac senior currency strategist Sean Callow said that aside from broader USD strength, lower commodity prices may also be weighing on the AUD. Chinese stocks are also falling, as gains in US stocks failed to translate into […]
The Australian dollar is getting beaten up again
Markets

Larry Summers explains why Mnuchin’s comments about a weaker dollar ignore a key part of America’s economic strength

Treasury Secretary Steven Mnuchin touted the benefits of a weak dollar, causing a commotion in currency markets. The president himself was forced to echo the Treasury’s long-standing strong-dollar mantra, but the US currency continued to fall. Lawrence Summers, former Treasury Secretary under President Bill Clinton, wrote in a Washington Post […]
Larry Summers explains why Mnuchin’s comments about a weaker dollar ignore a key part of America’s economic strength