Dollar drops against basket of currencies after Donald Trump brushed off concerns over slide
The US dollar has fallen to its lowest level in four years after Donald Trump brushed off concerns over the currency’s fall, sending investors fleeing to traditional havens including gold and the Swiss franc.
The dollar dropped by 1.3% against a basket of currencies after the president’s comments on Tuesday, marking its fourth day of declines, then slipped by a further 0.2% on Wednesday morning.
“No, I think it’s great,” Trump said of the weaker dollar, during a visit to Iowa to promote his record on the economy. Asked whether he was concerned about the currency’s slide, he told reporters: “I think the value of the dollar – look at the business we’re doing. The dollar’s doing great.”
The greenback has tumbled by 10% over the past year, while Tuesday’s fall was the largest one-day drop since last April, when Trump announced his sweeping tariff plans, marking a global market sell-off.
You mean several decades ago, china started that back after Nixon was it normalized relations? Idk when they joined the wto. They’ve been undervaluing their currency to boost exports the entire time. Also exploiting their workers, polluting their country, and the like, and in exchange they’ve gotten western capital to build their factories to produce everything, and hand them the technology to do it. They gave those corporations 99 year leases, but could take them in an instant, giving them an ultimate veto over the US Government.