FX Markets

Will Snow fix flaky dollar policy?

Officially, the US does not pursue a foreign exchange policy with relation to the dollar’s value, but market participants are unanimous that it does exist. Former treasury secretary Paul O’Neill’s attitude towards the policy was one of "benign neglect" analysts said. "He would say ‘we have one’ and then refuse to discuss it," said one FX trader in New York.

Some analysts believe Snow’s appointment will see the US switch to a weakening dollar policy. "This administration has everything to gain

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