The US can do one big thing to weaken the dollar and put pressure on China
Broken dollar bill
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- The US could use a simple tool to strategically weaken the US dollar for economic gains.
- That tool, while difficult, is to get the US budget under control.
- A reduction in the federal deficit would help tame inflation and weaken the US dollar.
The US dollar has been surprisingly resilient in recent months.
It's risen against 15 of 16 major currencies so far in 2024, and posted year-to-date gains of more than 5% against the Japanese yen and Swiss franc.
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