BlockBeats news, on May 15, according to sources, US officials engaged in global trade agreement negotiations have not attempted to incorporate commitments on exchange rate policy into the agreement's terms. The foreign exchange market is experiencing significant volatility due to concerns that the Trump administration intends to push for a depreciation of the dollar or to achieve that goal through trade negotiations.
On Wednesday, the Korean won surged nearly 2% against the US dollar, while the yen also strengthened. Earlier this month, the New Taiwan dollar's increase reached a decades-high. According to the source, US Treasury Secretary Mnuchin is the only member of Trump's economic team responsible for exchange rate matters and has not authorized other officials to engage in exchange rate policy consultations with trading partners; related negotiations will only take place with his direct involvement. (Jin Shi)
