Despite the Trump mayhem the dollar has been surprisingly resilient

Adam Tooze 28 June 2026
https://adamtooze.substack.com/p/top-links-1146-the-dollars-resilience



This 10% decline looks like a modest currency realignment rather than the onset of a sharper decline that took place in the 1980’s (after the Plaza Accord to deliberately weaken the dollar), or the decline in the early 2000’s after the launch of the Euro.
Source: Cembalest in JPM
https://assets.jpmprivatebank.com/content/dam/jpm-pb-aem/global/en/documents/eotm/semiquincententacles.pdf


A ‘Mar-a-Lago Accord’; like Plaza Accord, followed by Louvre Accord
https://englundmacro.blogspot.com/2025/02/a-mar-lago-accord-like-plaza-accord.html


Weakening the dollar is a good idea
https://englundmacro.blogspot.com/2024/10/weakening-dollar-is-good-idea.html

Konflikter om hur man ska justera externa obalanser återkommit ungefär vartannat decennium sedan 1980-talet. 
Varför är hanteringen av globala obalanser i betalningsbalansen både så svår och så viktig?  

Det korta svaret är att de ligger i skärningspunkten mellan nästan allt som är viktigt inom global ekonomi och politik: nationell makt, full sysselsättning, industriell styrka, finansiell stabilitet, finans- och penningpolitik och hantering av växelkurser.

1920- och 1930-talen var en lärdom i hur allt kan gå spektakulärt fel.
Martin Wolf Financial Times 13 maj 2026
https://englundmacro.blogspot.com/2026/05/martin-wolf-globala-obalanser-target.html 

28 juni
https://englundmacro.blogspot.com/2026/06/28-juni-xi-trump-och-putin.html


 




 

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