Bloomberg Daybreak: Europe Edition Trump Fuels Dollar Drop, Crypto Giant’s Gold Hoard, UK Business Courts China
6 snips
Jan 28, 2026 Jack Ryan, Bloomberg precious metals reporter who covered Tether’s massive physical gold purchases and storage. Julie Rand (Shuli Wren), Bloomberg Opinion columnist on markets and macro. They explore a falling dollar and its market ripple. They discuss gold’s record surge and the ‘debasement trade’. They explain how reserve shifts and bullion hoards reshape global finance.
AI Snips
Chapters
Transcript
Episode notes
Trump's Comments Accelerate Dollar Weakness
- President Donald Trump's public indifference to a weaker dollar has amplified the currency's selloff and market volatility.
- That stance increases incentives for global investors to reduce holdings of US assets, deepening the debasement trade.
Gold Rally Reflects Debasement Trade
- Gold surged past $5,200 an ounce as investors fled sovereign bonds and weak currencies amid dollar weakness.
- The move reflects a broader 'debasement trade' where market participants shift into hard assets like gold.
Starmer's China Visit Balances Trade and Diplomacy
- Keir Starmer led a UK business delegation to Beijing aiming to broaden trade ties without provoking US friction.
- Britain seeks more Chinese investment while downplaying imports to avoid jeopardizing US-UK relations.