Deese was blunt earlier, saying he does not anticipate the need for a global accord to adjust currency values.
Deese referring to the 'Plaza Accrod' that drove the USD lower in the back half of the 1980s (the agreement was reached on September 22 1985).
Bloomberg carry a piece recapping his comments:
- “I don’t anticipate that that’s where we’re headed,” Deese said at an event at the Economic Club of Washington, DC when asked whether there was any possibility of a global agreement to adjust currency values, as was reached in 1985.
- Deese’s rejection of a new version of the Plaza Accord, as the 1985 deal was known, came hours after Treasury Secretary Janet Yellen suggested there was little cause for concern with current moves in financial markets.
The USD has traded more strongly again in Asia today.
