U.S. President Trump commented on the U.S. dollar's performance, describing it as "good" and predicting currency fluctuations. He dismissed concerns about depreciation, stating he wants the dollar to return to a "proper level." Trump suggested he could influence the dollar's exchange rate, likening potential volatility to a "yo-yo," but criticized such manipulation as undesirable.
Following Trump's remarks, the U.S. Dollar Index (DXY) initially rose but then fell sharply by over 50 points, reaching its lowest level since February 2022. This decline allowed non-U.S. currencies to gain, with the offshore Chinese yuan nearing the 6.93 mark against the dollar. Concurrently, gold prices surged, exceeding $5,180 per ounce.
Trump Comments on Dollar Volatility, U.S. Dollar Index Drops
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