Pimco's Fels Sees U.S. Waging Cold Currency War of Words

The transcript discusses the ongoing cold currency war, highlighting actions by the ECB and BoJ to weaken the euro and yen, and the US's verbal response targeting China. It explores the potential impact of a weaker dollar and the upcoming G20 meeting, where global financial leaders will discuss currency strategies. The historical context of currency wars is examined, with a focus on the Shanghai Accord and the need for a new multilateral agreement to stabilize currencies.

Discuss the potential consequences of a weaker dollar on the Trump administration's trade policies.

What does the text suggest about the future of currency wars and the possibility of a new Plaza Accord?