Barclays economists said in a report that while no country in Asia appeared to have manipulated its exchange rate last year, that may not have deterred the United States from targeting foreign exchange policies in Asia.
Barclays' calculations of changes in foreign exchange reserves suggest that dollar weakness in February led to dollar buying in the region, which is likely to continue into March. The longer the dollar remains under pressure, the more inclined Asian central banks are to intervene when trade pressures intensify to prevent their currencies from strengthening.
It added: "In our view, it is possible for the US government to use currency manipulation to justify various actions, including tariffs.
Barclays: Trump administration may use currency manipulation to justify tariff policy
2025-04-02 03:33:37
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