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Currency traders are betting that Friday's meeting between Donald Trump and Japanese Prime Minister Shinzo Abe downplays the chances of trade or currency wars in place of declarations of economic and diplomatic cooperation.

Data: Money.net

The dollar surged to a 10-day high on Friday against the Yen, regaining losses instigated by the President and his advisors suggesting that the Trump Administration would push for a weaker dollar to boost American exports. It still remains below its yearly high, set in December, after markets prepared for Trump policies that would stimulate the U.S. economy.

Trump's seesaw: Donald Trump's desire to cut taxes and regulation works at cross purposes with his desire to see a weaker dollar. Currency markets will whipsaw as long as Trump's professed goals do.

Go deeper

Bryan Walsh, author of Future
8 mins ago - Politics & Policy

President Biden faces a deeply broken America

Illustration: Aïda Amer/Axios

As President Biden begins his term in office today, he'll be tasked with leading a country beset with deep, long-term problems.

Why it matters: Though the pandemic has made them worse, existential challenges around inequality, social alienation and political division in the U.S. were in place well before SARS-CoV-2 arrived on American shores. The country's future will depend in large part on whether the choices made over the next four years can flatten the curve of American decline.

Facebook, Instagram transfer accounts, followers to Biden administration

Screenshot of official White House Facebook account.

Facebook on Wednesday confirmed that it is transferring the millions of followers of the official Facebook and Instagram White House accounts to the Biden administration.

Details: The accounts for "@POTUS," "@VicePresident" ("@VP" on Instagram) and "@FLOTUS" are having the followers from their personal Pages and accounts be transferred over. It's unclear when that transition process will be complete.

Updated 37 mins ago - Politics & Policy

Inauguration Day dashboard

Biden delivers his inaugural address on the West Front of the Capitol. Photo by Tasos Katopodis/Getty Images

President Biden has delivered his inaugural address at the Capitol, calling for an end to the politics as total war but warning that "we have far to go" to heal the country.

What's next: Biden signs executive orders and swears in day one presidential appointees in a virtual ceremony.