US President Donald Trump has suggested that the United States should "MATCH" China and Euoropean manipulated the exchange rate, triggering the value of immersion in the dollar.
The president shared his thoughts in a tweet posted on July 3rd:
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“In order to compete with the United States, China and Europe have launched large-scale currency manipulation games and injected funds into their systems. We should match, or continue to be, fools who sit down and politely watch other countries continue to play games – just like they have for many years Come the same!"
Although the Trump administration officially stopped accusing China of depreciating its currency for an unfair trade advantage two months ago, the new attack continues.
In the same way that Encrypted Twitter and Reddit, commentators quickly noticed that Trump's tweet is almost identical to "direct purchase of Bitcoin orders" in view of this "competitively reduced" monetary policy.
Trump Fed board nominee Judy Shelton said in a tweet the previous day that she will "try to support the US economic growth agenda with appropriate monetary policy."
In a tweet published on July 3, eToro analyst Mati Greenspan affirmed his view that the impact of macroeconomic trends on Bitcoin has become a reality and says:
“My understanding is that central bank policy is the biggest driver for all markets, including encryption.”
The provocative act of the president sparked a new wave in Europe, a foreign exchange strategist told CNBC that he was worried that the government might crack down on the “countervailing” of the EU auto industry and treat it as something for the US Department of Commerce. The reason for the response. 'The artificial currency depreciation.
Other foreign exchange strategists have commented on the unexpected timing of China’s monetary policy being attacked again, arguing that the yuan has not been significantly manipulated in the past few years.
As politicians weaponize the country's fiat currency to gain trade, the argument for encryption as a safe-haven asset seems to be stronger than ever.
In a comment earlier this week, Morgan Stanley digital asset co-founder Anthony "Pomp" Pompliano predicted that bitcoin (BTC) would reach $100,000 by the end of 2021 on the grounds that the current globally unstable climate is a major driver. (New Finance)