Trump Deepens Dollar Woes, Brushing Off Concerns About Slump [View all]
(Bloomberg) -- President Donald Trump indicated he’s comfortable with the dollar’s recent decline, helping send the currency to its lowest level since early 2022.
“No, I think it’s great,” Trump told reporters in Iowa on Tuesday when asked if he was worried about the currency’s drop. “I think the value of the dollar — look at the business we’re doing. The dollar’s doing great.”
Trump’s comments added fuel to what was already the dollar’s deepest drop since his tariff rollout sent markets into a tailspin last year, fanning fears that his erratic policy shifts would drive overseas investors to pull back from the US. After he spoke, the Bloomberg Dollar Spot Index extended losses to as much as 1.2%, as the US currency weakened against all of its major counterparts before steadying somewhat in London trading Wednesday. The latest tumble puts the gauge on track for its worst month since April.
The president has long accused other countries of seeking weaker exchange rates to boost exports, and Treasury Secretary Scott Bessent has highlighted the distinction between the dollar’s price and its value as a reserve currency. So these latest comments were seen as giving a green-light to traders to sell the greenback.
https://finance.yahoo.com/news/trump-says-not-concerned-decline-205831235.html
= new reply since forum marked as read