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President Trump says dollar is “too strong”

All papers took up President Trump’s remarks in an interview with the Wall Street Journal, in which he said: “Our dollar is getting too strong, and partially that’s my fault because people have confidence in me. But that’s hurting — that will hurt ultimately.” Pointing out that the President also indicated in the same interview that his administration will not designate China as a “currency manipulator” in exchange for its cooperation for defusing the tension with the DPRK, Nikkei said the U.S. leader made it clear that currency policy may be used as a diplomatic tool. The paper expressed concern that the Trump administration may ultimately bring up the dollar-yen exchange rate in future sessions of the economic dialogue with the goal of correcting the bilateral trade imbalance. The daily added that Japanese officials chose to remain silent on the President’s remarks on the “strong dollar” out of fear that criticism might prompt the U.S. side to take up the currency issue in next week’s economic dialogue.     

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