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Last Saturday, US President Donald Trump once again stated that the dollar is too strong and lashed out at the Federal Reserve Jerome Powell, calling him a man who likes to raise interest rates.
The US currency initially reacted with a fall on the statement of the head of the White House but then continued to strengthen. The dollar index shows growth for the fifth day in a row.
Analysts say that Donald Trump seems to have to show much more zeal if he wants to reduce the dollar.
"The President of the United States, apparently, will not succeed in so simply" talking "the dollar. Where else to invest when major economies, including Europe, show weakness? There are not too many places around, and this will keep the dollar rate high, "says Stephen Miller from consulting company Grant Samuel.
According to the senior portfolio manager at investment firm QIC Ltd., Stuart Simmons, the US assets remain in demand due to the cooling of the global economy, as well as the weak GDP growth in developed countries and the softening of the position of leading central banks, despite the pause of the Fed in the rate hike cycle.
"However, if the statistical data of the United States becomes comparable with the indicators of other states and in these countries, economic recovery will begin then a weakening of the dollar will probably follow," the expert believes.
"The high exchange rate of the American currency is explained by low-interest rates around the world. In 2019, yield differentials may peak and begin to shrink. If this happens, the greenback will unfold, "said Andrew Sheets of Morgan Stanley.
"If the Fed has resorted to expansionist measures for very good reasons, Donald Trump will not hesitate to present it as a result of his pressure on Jerome Powell, which will cause even more damage to the dollar," commented by the currency strategist at Commerzbank, Ulrich Leichtman.
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