Last evening Trump broke one (or more) of his electoral promises. During the electoral campaign, he had accused China manipulating currency and said he will take steps to tackle this problem on a global scale.
However after a few comments against Germany and Japan in the first weeks of his presidency, it seems like he has since forgotten his promise.
China, Japan and Germany have big trade surpluses while their respective currencies are pretty weak. According to Trump (during his campaign), these governments/countries should give some of it back to the rest of the world. This means that they should let their currencies float around freely.
Too bad that it´s the central banks who rmake these decisions. For that matter, the FED has done its own share of currency manipulation over the last decade.
You can´t blame others for stuff you have already done yourself, but that´s Trump. He´ll be around for another four years, and at least the market seems to have gotten used to him, to some degree.
Last evening he said he did like a low interest rate policy and that he won´t label China as a currency manipulator. He seems to be getting into the game of currency devaluation, doesn't he?
He also changed his opinion about the FED´s Yellen. During the campaign, he promised to sack her, but now he seems to be having some mixed feelings about her.
At least, it looks like the “Donald” is getting into the system now, as opposing to fighting it from the outside. Let´s see what direction the Buck will take. Right now it´s headed down.