Trump Tanks The Dollar

Jewel Samad | AFP | Getty Images
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The dollar fell on Wednesday after President Donald Trump criticized its recent strength, but analysts expect the greenback to bounce back soon. Trump said the currency was “getting too strong” in an interview with The Wall Street Journal.

“I think our dollar is getting too strong, and partially that’s my fault because people have confidence in me. But that’s hurting—that will hurt ultimately,” Trump told the paper.

In the wake of the comments, the dollar index, which measures the greenback against a basket of currencies, fell as low as 100.01 in early Asia trade on Thursday, from levels above 101 earlier in the week.

The dollar also tumbled against the safe-haven yen, fetching as little as 108.70 yen in early Asia trade Thursday, the lowest since November, down from levels above 111 yen earlier in the week.

But analysts said the dollar weakness was temporary.

read more at cnbc.com

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About Chuck Berry

Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!

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