When US Treasury Secretary Steven Mnuchin dared touch what was a third rail for a Treasury Secretary – talking down the US dollar – he had done something not done since 1992 when Secretary Lloyd Bensten engaged in a full-blown currency war. While former Treasury Secretary Larry Summers was quick to rip into fresh meat, saying a “vicious cycle can result” if a currency war results, it was Deutsche Bank’s Alan Ruskin who proclaimed January 24th as the day in currency folklore that should be historically referred to as “The Davos Divorce.” [klarman] Dropping the currency value might help economically…
The Davos Divorce
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.
