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Dollar Sinks to Four-Year Low, Trump Brushes Off the Decline
President Trump’s acceptance of a weaker dollar triggered a sell-off, with the Bloomberg Dollar Spot Index falling 1.2%, marking its lowest level in four years.
- On Jan 27, the U.S. dollar sank to a four-year low, including a fall to $0.83 against the Euro, as the index hit a session low.
- After the comments, markets sold the greenback as President Donald Trump told reporters `No, I think it’s great` and said he could move the currency `like a yo-yo`.
- In Asia, the Singapore dollar surged to an 11-year high on Jan 27 and was trading at 1.2611 per US dollar at 9.08am Singapore time on Jan 28, while investors poured into gold, pushing record prices.
- Traders say a weaker dollar helps multinationals by boosting foreign revenue but raises imported goods costs and inflation risks, while analysts warn selling U.S. Treasuries could force the Fed to act.
- Policy shifts have left overseas investors wary as yen strength since last week and talk of Japanese officials’ intervention stir market stress, while Chandler warned Fed-Treasury messaging `threw gasoline on the fire`.
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Dollar hits 4-year low as Trump comments trigger global sell-off | Honolulu Star-Advertiser
LONDON >> The dollar steadied today, but was still set for its biggest weekly fall since April after President Donald Trump brushed off this month’s slide, prompting concern from European central bankers over the strength of the euro.
·Honolulu, United States
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Coverage Details
Total News Sources23
Leaning Left1Leaning Right5Center5Last UpdatedBias Distribution46% Center, 45% Right
Bias Distribution
- 46% of the sources are Center, 45% of the sources lean Right
46% Center
C 46%
R 45%
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