Economics
Dollar Plunges After Trump Says Currency `Getting Too Strong'
- Trump says he’s undecided on renominating Fed Chair Yellen
- Greenback declines by most this month after Trump’s comments
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The dollar plunged to new session lows after U.S. President Donald Trump said the currency “is getting too strong.”
The Bloomberg Dollar Index abruptly fell more than 0.5 percent, the most on an intraday basis since March 27, after the Wall Street Journal reported Trump’s comments on the dollar. Trump also said he would prefer the Federal Reserve keep interest rates low. Prior to the publication of Trump’s remarks, the dollar had reversed losses to a session high as a meeting of U.S. and Russia’s top diplomats helped ease market anxiety over geopolitical tensions.