US EditionBREAKING NEWS: Trump Says Current Value of U.S. Dollar Is "Great"
The dollar index dropped to 95.566, its lowest since February 2022, amid expectations of Fed rate cuts and policy uncertainty, despite President Trump's positive remarks.
- On Tuesday, President Donald Trump told reporters in Iowa the dollar was `great`, comments made as the greenback hit its lowest level since February 2022.
- Amid expectations of Federal Reserve rate cuts and policy volatility, market participants cite tariff uncertainty and rising fiscal deficits as key drivers, while traders reacted to talk of coordinated moves by U.S. and Japanese authorities.
- Losses in the dollar index accelerated after Trump's remarks as FX market participants looked to jump on a trend, while the yen rallied by as much as 4% amid U.S.-Japan rate checks; Steve Sosnick said a weaker dollar `was a two-sided coin`.
- At the same time, imports become more expensive and may raise inflationary pressures, while a weaker greenback helps multinational companies convert foreign profits and eases repayment burdens for foreign countries and corporations with dollar debt.
- Observers note the U.S. administration's preference for a weaker dollar to improve the trade deficit, while officials warn Trump’s indifference can embolden sellers though he said he was not seeking further decline.
14 Articles
14 Articles
Trump's statement that "the value of the dollar is exceptional" was seen as a sign of tolerance - or even encouragement - for further weakening, ahead of the Fed's crucial monetary policy decision.
Trump Says Value of the Dollar Is 'Great', Currency Hits 4-Year Low
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. The dollar’s recent weakness stems from multiple factors: expectations of continued Federal Reserve rate cuts, tariff uncertainty, policy volatility including threats to Fed independence and rising fiscal deficits, all of which have eroded investor confi…
Dollar tumbles to a four-year low as Trump claims it’s ‘doing great’
The U.S. dollar fell to its lowest level in four years on Tuesday despite President Donald Trump claiming it was “doing great” in a speech in Iowa. Article Attribution | Read More at Article Source The post Dollar tumbles to a four-year low as Trump claims it’s ‘doing great’ appeared first on RocketNews.
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