Dollar Slumps as Trump Says Currency's Too Strong: Markets Wrap
- President says he won’t brand China a currency manipulator
- Treasury yields drop to lowest since just after election
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The dollar slumped and Treasury bond yields dropped to the lowest level this year after President Donald Trump said he will not brand China a currency manipulator and added that the greenback was getting too strong. U.S. stocks declined for a second day as volatility climbed again across asset classes.
The Bloomberg Dollar Spot Index fell as much as 0.4 percent after Trump made the comments in an interview with the Wall Street Journal on Wednesday, abandoning a core promise of his election platform that tapped into voter anger about trade-driven job losses.