Dollar Slides After Trump Applauds Currency Weakness
The Bloomberg Dollar Spot Index, a widely followed indicator tracking the dollar’s performance against other major currencies, posted its sharpest fall since April of last year, sliding to its lowest point since February 2022. The downward momentum intensified moments after Trump, addressing journalists in Iowa on Tuesday, was questioned about whether the dollar had declined excessively.
“No, I think it’s great,” he responded. “I think the value of the dollar – look at the business we’re doing. The dollar’s doing great.”
Trump went on to explain that he preferred the currency to “just seek its own level, which is the fair thing to do,” while drawing a contrast with earlier disputes involving China and Japan, which he accused of intentionally weakening their currencies. “It’s hard to compete when they devalue,” he stated.
Financial market observers viewed these remarks as a notable break from the long-standing “strong dollar” doctrine traditionally endorsed by administrations from both political parties. A media outlet reported that Trump’s decision to avoid repeating that “boilerplate” phrasing unsettled investors and contributed to market anxiety.
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