The Trump Administration has stopped talking about the dollar - BBH

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman, says that most of the comments that worried investors took place in confirmation hearings.  There are many currencies that are undervalued against the dollar.  This is a result, we argue, in the contrasting responses to the crisis, and the subsequent divergence of policy. 

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"Confirming a less confrontational approach, Trumps' strategy and policy adviser Schwarzman, indicated in an interview on CNN that the US President is likely to temper his criticism of China.  What Schwarzman hints at, and the media reports have expanded upon, is that diverse views are represented in the Trump cabinet and among his advisers.  Those that are most rooted in liberal globalism are well presented among the economic advisers and cabinet secretaries.  It does not mean they will carry all arguments and win all policy debates."

"Many observers and investors may be surprised that the G20 meeting is a smooth event without the kind of disruptions that some had feared.   Trump and Yellen meet tomorrow, and Mnuchin and Schaeuble meet later in the week.  The Obama Administration was increasingly critical of Germany and sought in vain, to encourage it to offset the contraction in the periphery by the new stimulus, not a balanced budget.  The Trump Administration is different in style, but hopes for greater success may rest in German voters' hands when they go to the polls in September."