US EditionDollar Hovers Near Four-Year Low as Trump Comments Fuel Sell-Off Ahead of Fed Decision
The dollar dropped 1.4% to its lowest since 2022 amid concerns over Federal Reserve independence and potential U.S.-Japan currency intervention, analysts said.
- Dollar markets on Tuesday reacted after President Donald Trump in Iowa said `just seek its own level`, as the U.S. dollar fell 4% to 95.77, its weakest since February 2022.
- Markets blamed Trump's policy-making and concerns about Federal Reserve independence, while analysts noted the U.S. Treasury considered intervention and the New York Federal Reserve checked dollar/yen rates amid U.S.-Japan coordination.
- The yen rallied by as much as 4% over two sessions, slipping below 153 to about 152.23, while the euro rose 1.4% to US$1.20375 and sterling added 1.2% to US$1.3844.
- Investors will watch the Fed's meeting as a weaker dollar aids multinational companies and exporters but raises import costs and inflation risks for foreign borrowers with dollar-denominated debt.
- Trump made the remarks in Iowa ahead of a speech to rural supporters, and analysts said the comment `put gasoline on an already existing fire`, amplifying pressure on the dollar.
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U.S. President Donald Trump minimized the fall of the dollar and said it "is going excellent," after the currency reached its lowest level in nearly four years.
Times of India
The Star Kuala LumpurTrump says value of the dollar is 'great', currency hits 4-year low
Dollar fall: Amid the backdrop of the dollar hitting a four-year low, President Trump touted the currency's impressive value, even as experts analysed the various elements contributing to the dollar's decline. While a weaker dollar may benefit US exporters by lowering prices overseas, Trump noted his intention for the dollar's value to find its natural balance.
Crisis of Confidence: Trump Comments Shake the Dollar on Global Markets
The U.S. dollar faces a crisis of confidence, with its value dropping amid President Trump's comments. The euro and yen rise, reflecting traders' reactions to potential currency interventions. Analysts cite erratic U.S. policies as reasons for declining dollar confidence, overshadowing strong economic fundamentals.
Dollar reaches 4-year low as Trump says currency’s value is ‘great’ | Honolulu Star-Advertiser
President Donald Trump said on Tuesday the value of the dollar was “great,” when asked whether he thought it had declined too much, adding to pressure on the greenback which hit a four-year low.
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