Commentary

The tricky task of trying to weaken the US dollar

The trade war between Washington and Beijing took an unexpected turn last week as China let its currency drop sharply and the United States responded by officially designating the country a currency manipulator.

The confrontation underscored the Trump administration's focus on weakness in foreign currencies - and the corresponding strength of the dollar - as a drag on the US economy.

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A version of this article appeared in the print edition of The Straits Times on August 12, 2019, with the headline 'The tricky task of trying to weaken the US dollar'. Subscribe