According to online reports, Jane Foley, foreign exchange strategist at Rabobank, said that the recent sell-off of U.S. Treasury bonds has weakened Trump's leverage in negotiations with other countries to devalue the dollar. "If the Treasury market is more fragile, then he can't bully everyone to the same extent." Earlier this month, Trump announced a 90-day moratorium on higher reciprocal tariffs on most countries after U.S. Treasuries fell sharply. There is speculation that Trump may seek a new "Plaza Agreement", the Mar-a-Lago Agreement, to devalue the dollar. If that happens, it will likely be during a 90-day tariff suspension in exchange for a trade deal. However, judging by Trump's reaction to the turmoil in U.S. debt, that seems unlikely, Foley said.