Trump's war cry for a weaker dollar is nothing new but it works
The US dollar index has fallen for five consecutive quarters since 2017
His accusations here yesterday didn't really contain any hidden messages. It's clear that he prefers a weaker dollar against the backdrop of an economy with a growing budget deficit and a large trade deficit.
And the thing is, Trump continues to get things going his way up until today. Since he took office on 20 January 2017, the US dollar has slumped in every quarter - the last five quarters - and is already off to a poor start in Q2 this year.
No thanks to the man himself, of course.
The larger picture at play here is the story of the twin deficits. And a weaker dollar will help Trump at least address one side of it - or at least try to - and it appears more than ever now that this will be the path he is choosing to tackle the issue at hand.
However, as mentioned here last week, Treasuries are not likely to be the solution he is looking for to promote a weaker dollar. And if so, he has little left but to talk it down himself.