Dollar Bulls Learn the Meaning of Complacency

President Donald Trump has made betting on a stronger dollar perhaps the riskiest trade in global markets. The Bloomberg Dollar Spot Index was pushing toward its highest level since last July on Thursday until Trump told CNBC in an interview that “our currency is going up, and I have to tell you it puts us at a disadvantage.” The dollar gauge promptly erased a gain of as much as 0.63 percent before ending the day a bit higher. In April 2017, Trump told the Wall Street Journal that “I think our dollar is getting too strong, and partially that’s my fault because people have confidence in me.” Then in January, Treasury Secretary Steven Mnuchin said a weaker dollar was good for U.S. trade.