Trump remarks signal new phase of dollar decline, says Eurizon’s Jen

US President Donald Trump’s remarks on the US dollar’s recent weakness mark a new phase of depreciation and suggest the administration is targeting an exchange rate that benefits US exporters, said Stephen Jen, chief executive of Eurizon SLJ Capital, Bloomberg reported.

This is likely just the beginning of the US dollar’s next leg lower, Jen said, adding that many market participants may be unprepared after a generation of currency analysts grew accustomed to a strong US dollar and a strong US economy, and unable to interpret a scenario in which the US dollar weakens while growth remains resilient.