ArmInfo. "No, I think it's great," he told reporters in Iowa on Tuesday when asked if the national currency's decline worried him.
He said the dollar is "doing great." Following this statement, the American currency hit its lowest level since early 2022.
"Take China and Japan—I fought them like hell because they always wanted to weaken their yen," Trump said. "You know that? The yen and the yuan—they always wanted to weaken them. They weaken, weaken, weaken. And I said, 'It's unfair that you're weakening'—because it's hard to compete when they're weakening."
"Many in the Trump cabinet want a weaker dollar to make exports more competitive," notes Win Tin, chief economist at Bank of Nassau, as quoted by Bloomberg. He believes it's a "calculated risk."
Eurizon SLC Capital founder Stephen Jen believes the Trump administration's views on the national currency mark the beginning of a new phase of the dollar's decline.
The ICE DXY index, which tracks the dollar against six currencies (the euro, Swiss franc, yen, Canadian dollar, British pound, and Swedish krona), fell 0.17% on Wednesday. The broader WSJ Dollar Index gained 0.08%.
