The U.S. Dollar is reported to have dropped a little bit today. This happened shortly after President Trump gave his assessment of the situation in the American financial system. In particular, he assumes that the U.S. Dollar is a little bit too strong and he wants interest rates to stay low.
Shortly after this statement made during the interview with the WSJ, the American currency lost 0,6% only to see a further move down to set a new 3-week low. They say that Donald Trump broke an old tradition during his interview. For those of you who don’t know, neither the Democrats, nor the Republicans comment the independent policy of the Federal Reserve. Another weird fact is that for the first time in many years, the Presidents is talking about the value of the U.S. Dollar. As usual, this is something the Fed’s representatives do.
Trump’s comments were perceived by the market as another reminder of Trump’s protectionist rhetoric.
Masterforex-V Academy reports, that the comments also made the U.S. Dollar reach a 5- month low against the Japanese Yen at 108,73. However, the price has retraced a bit since then and is now somewhere around 109.
