The dollar’s rally since Donald Trump’s election victory on November 5 is destined to have a run-in with the US president-elect himself, and soon.
The greenback’s surge is predicated on Trump’s plans to impose giant tariffs on goods entering the US while cutting domestic taxes. That’s why, in the days after the election, the dollar saw its biggest jump in years against a basket of major currencies.
Yet the rally is very much at odds with Trump’s biggest objective as 2025 approaches: weakening the world’s reserve currency.
One of Trump’s most consistent beliefs is that the dollar’s exchange rate can almost never be too low. There are myriad Trump quotes since the 1980s detailing his views on how a strong dollar holds back the US economy.
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