Trump made statements to the press in Iowa about the value of the US dollar.
In response to a question about the devaluation of the dollar, Trump said that in his opinion the dollar had not lost much of its value.
Trump said: “No, I think it's great. Look at the work we're doing. No, the dollar is doing great.” he said.
Trump explained that China and Japan used to argue a lot with these countries because they wanted to devalue their currencies, saying that it was not fair and that competition became difficult when they devalued their currencies.
Trump explained that the dollar is trying to find its own level and pointed out that this is fair.
President Trump said: “I could move (the dollar) up or down like a yo-yo.” he said.
Following Trump's statements, the dollar index, which measures the value of the U.S. dollar against the euro, Swiss franc, Japanese yen, Canadian dollar, British pound and Swedish krona, fell to 95.6, its lowest level in four years.
In international markets, the euro/dollar parity rose to 1.20, reaching its highest level since 2021.
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