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Dollar sees biggest one-day drop in 3 weeks after Trump comments
Saturday, 21 July 2018 03:25 WIB | CURRENCIES |DOLLAR Indeks DolarIndeks Dollar WSJ

The U.S. dollar got pummeled on Friday after President Donald Trump accused China and the European Union of currency and interest-rate manipulation that he says has put the U.S. at a disadvantage.

The ICE U.S. Dollar Index traded 0.7% lower to 94.478 after the tweets, marking its worst performance in three weeks.

That was enough to turn the gauge, which measures the greenback against six major rivals, negative for both the week and the month, according to FactSet. On the week, the index is down 0.3%, while it is down 0.2% in July. The broader WSJ Dollar Index was down 0.7% at 88.24, as most emerging market currencies rallied as the buck weakened.

It was the second time in less than 24 hours that the president™s comments rattled the buck, after Trump suggested he could slap more tariffs on China and said he wasn™t œthrilled with the Fed raising rates in an interview with CNBC on Thursday.

Source : Marketwatch

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