Wall Street Restarts Dollar Devaluation Trade: Gold Surges, Emerging Market Currencies Rally — But Fed Support Still Needed - KuCoin
Wall Street Restarts Dollar Devaluation Trade: Gold Surges, Emerging Market Currencies Rally — But Fed Support Still Needed - KuCoin
Source: KuCoin
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DW NOTE
Wall Street calls it "dollar devaluation trade" — gold up, EM currencies rallying — but the Fed's rate on reserves still sits at 3.65% while headline inflation runs at 3.40%. That's not devaluation, that's markets pricing geopolitical chaos while the central bank holds pattern. Gold is 15.4% off its lows because the Strait of Hormuz is closed, not because the dollar is being deliberately debased.