15 May, according to sources, U.S. officials engaged in global trade agreement negotiations have not attempted to include commitments on exchange rate policy in the terms of the agreement. The forex market is experiencing severe fluctuations due to concerns that the Trump administration intends to push for a depreciation of the dollar or achieve this goal through trade negotiations. On Wednesday, the Korean won soared nearly 2% against the dollar, the yen also strengthened, and earlier this month, the New Taiwan Dollar's increase set a new high in decades. The source stated that U.S. Treasury Secretary Mnuchin is the only member of Trump's economic team responsible for exchange rate matters and has not authorized other officials to negotiate exchange rate policies with trade partners; relevant negotiations will only take place when he is personally involved. (Jin10)
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15 May, according to sources, U.S. officials engaged in global trade agreement negotiations have not attempted to include commitments on exchange rate policy in the terms of the agreement. The forex market is experiencing severe fluctuations due to concerns that the Trump administration intends to push for a depreciation of the dollar or achieve this goal through trade negotiations. On Wednesday, the Korean won soared nearly 2% against the dollar, the yen also strengthened, and earlier this month, the New Taiwan Dollar's increase set a new high in decades. The source stated that U.S. Treasury Secretary Mnuchin is the only member of Trump's economic team responsible for exchange rate matters and has not authorized other officials to negotiate exchange rate policies with trade partners; relevant negotiations will only take place when he is personally involved. (Jin10)