President Donald Trump dismissed considerations in regards to the U.S. greenback’s sharp slide on Tuesday, feedback that coincided with the forex hitting its weakest stage since early 2022.
Greenback drops to a 2022 low
The benchmark ICE U.S. Greenback Index, which tracks the greenback towards a basket together with the euro, British pound, Japanese yen, Canadian greenback, and Swiss franc, fell as a lot as 1.5% on the day.
The transfer put the index on monitor for its worst one-day decline since April, and capped what was described because the worst three-day drop since Trump’s April 2025 “Liberation Day” tariff rollout.
As of 4:30 p.m. ET, the greenback was at its weakest stage since early 2022.
Trump: ‘I feel it’s nice’
Talking to reporters in Iowa, Trump stated he was not fearful in regards to the current weak point:
“No, I feel it’s nice, the worth of the greenback … greenback’s doing nice.”
Reuters reported that losses within the greenback index accelerated after Trump’s feedback, with the index hitting a session low of 95.566, the bottom since February 2022.
Trump additionally referenced previous disputes over forex coverage with main buying and selling companions.
He stated:
“When you have a look at China and Japan, I used to combat like hell with them, as a result of they at all times wished to devalue.”
Merchants watch the Fed
Trump stated he didn’t need to see the greenback decline extra, including he would favor it to “search its personal stage,” in keeping with Reuters.
Merchants have been additionally awaiting potential coordinated forex intervention by U.S. and Japanese authorities, in addition to this week’s Federal Reserve rate of interest choice.