On the one hand, being labeled a foreign exchange manipulator is a toothless policy because it simply requires bilateral talks. Big deal. On the other hand, by citing them the administration demonstrates to an uppity Congress that it is on the case and steals their thunder.
More Quotes from Marc Chandler:
I'm confident that no member of the public saw our commercial or logo or telephone number and thought we were actually pit bulls or thought we were actually going to maim somebody or attack somebody.Marc Chandler
The pendulum has swung back in favor of a March rate hike. The dollar-bull camp is based on the interest-rate differentials. They have really renewed their widening.
Marc Chandler
It's unreasonable to expect currency movements to affect trade balances when you have all these other disequilibria like wages.
Marc Chandler
The market is pricing in a lot of good news for Europe and is not fully appreciating the good news we have for the U. S. The psychology is getting ahead of the fundamentals.
Marc Chandler
The quiet in the market has more to do with the holiday than it does with the strike. Foreign exchange is such a global market that if there's a staffing problem in New York City, they can pick up the slack in London or in other centers.
Marc Chandler
We still don't know how many more rate hikes there are in the cycle and the minutes don't really shed light on that. But rate hike increases are probably not large.
Marc Chandler
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