Don’t look for a a near-term quick fix on issue of increased currency appreciation from China, et al, says the Treasury secretary.
Seeing as China gave the Euros absolutely nothing on currencies this week in Brussels, there is no reason to suspect they will give an inch this weekend in Washington…
No quick fix means Asian central banks will continue to buy dollars against their local currencies and sell some of those dollars against EUR, AUD and GBP, keeping the greenback weak against the majors…