The backstory of how America coordinated with some of the world’s most powerful nations to tank the dollar

(Photo by Michael Evans/The White House/Getty Images)

• Officials of the Trump administration have said they want a weak dollar.
• The US government pushing for a weak greenback breaks with recent tradition.
• But 35 years ago, the Reagan administration worked with foreign governments to weaken the dollar.

At the beginning of the year, Treasury Secretary Steve Mnuchin said a weaker dollar “is good for us as it relates to trade and opportunities.” The move broke with the tradition of American officials publicly backing a strong dollar, and prompted President Donald Trump to say Mnuchin was taken out of context.  

But thirty-five years ago, the US government began taking part in coordinated efforts with allies to weaken the rallying dollar. Here’s a brief look back at what happened.

See the rest of the story at Business Insider

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